<SEC-DOCUMENT>0001727644-21-000084.txt : 20210423
<SEC-HEADER>0001727644-21-000084.hdr.sgml : 20210423
<ACCEPTANCE-DATETIME>20210423162333
ACCESSION NUMBER:		0001727644-21-000084
CONFORMED SUBMISSION TYPE:	N-CSRS
PUBLIC DOCUMENT COUNT:		9
CONFORMED PERIOD OF REPORT:	20210228
FILED AS OF DATE:		20210423
DATE AS OF CHANGE:		20210423
EFFECTIVENESS DATE:		20210423

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			FRANKLIN UNIVERSAL TRUST
		CENTRAL INDEX KEY:			0000833040
		IRS NUMBER:				943077602
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			0831

	FILING VALUES:
		FORM TYPE:		N-CSRS
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-05569
		FILM NUMBER:		21849981

	BUSINESS ADDRESS:	
		STREET 1:		ONE FRANKLIN PARKWAY
		CITY:			SAN MATEO
		STATE:			CA
		ZIP:			94403-1906
		BUSINESS PHONE:		650-312-2000

	MAIL ADDRESS:	
		STREET 1:		ONE FRANKLIN PARKWAY
		CITY:			SAN MATEO
		STATE:			CA
		ZIP:			94403-1906
</SEC-HEADER>
<DOCUMENT>
<TYPE>N-CSRS
<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;Times New Roman&quot;,&quot;serif&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;">UNITED STATES<br>
SECURITIES AND EXCHANGE COMMISSION<br>
Washington, DC 20549</div></div>

<div align="center" style="font-size: 12.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&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;">&#160;</div></div>

<div align="center" style="font-size: 12.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;text-align: center;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><b><div style="font-size: 10.0pt;font-family: &quot;Courier New&quot;;display: inline;">FORM N-CSRS</div></b></div>

<div align="center" style="font-size: 12.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&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;">&#160;</div></div>

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

<div align="center" style="font-size: 12.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&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;">&#160;</div></div>

<div align="center" style="font-size: 12.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&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;">Investment Company Act file
number: <u>811-05569</u></div></div>

<div style="font-size: 12.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;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;">&#160;</div></div>

<div align="center" style="font-size: 12.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;text-align: center;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><u><div style="font-size: 10.0pt;font-family: &quot;Courier New&quot;;display: inline;">Franklin Universal Trust </div></u></div>

<div align="center" style="font-size: 12.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&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;">(Exact name of registrant as
specified in charter)</div></div>

<div align="center" style="font-size: 12.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&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;">&#160;</div></div>

<div align="center" style="font-size: 12.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;text-align: center;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><u><div style="font-size: 10.0pt;font-family: &quot;Courier New&quot;;display: inline;">One Franklin Parkway, San
Mateo, Ca 94403-1906</div></u><div style="font-size: 10.0pt;font-family: &quot;Courier New&quot;;display: inline;"><br>
(Address of principal executive offices) (Zip code)</div></div>

<div align="center" style="font-size: 12.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&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;">&#160;</div></div>

<div align="center" style="font-size: 12.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;text-align: center;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><u><div style="font-size: 10.0pt;font-family: &quot;Courier New&quot;;display: inline;">Craig S. Tyle, One Franklin
Parkway, San Mateo, Ca 94403-1906</div></u><div style="font-size: 10.0pt;font-family: &quot;Courier New&quot;;display: inline;"><br>
(Name and address of agent for service)</div></div>

<div align="center" style="font-size: 12.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&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;">&#160;</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;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;">Registrant's
telephone number, including area code: <u>&#160;(650) 312-2000</u></div></div>

<div style="font-size: 12.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;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;">&#160;</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;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;">Date
of fiscal year end:&#160; <u>8/31</u></div></div>

<div style="font-size: 12.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;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;">&#160;</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;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;">Date
of reporting period: <u>2/28/21</u></div></div>

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

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

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

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

<div style="font-size: 12.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;text-indent: -22.5pt;margin-right: 0in;margin-left: 22.5pt;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;font-family: &quot;Courier New&quot;;display: inline;">a.)<div style="font: 7.0pt &quot;Times New Roman&quot;;display: inline;">&#160;
</div></div><div style="font-size: 10.0pt;font-family: &quot;Courier New&quot;;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;Times New Roman&quot;,&quot;serif&quot;;text-indent: -22.5pt;margin-right: 0in;margin-left: 22.5pt;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;font-family: &quot;Courier New&quot;;display: inline;">b.)<div style="font: 7.0pt &quot;Times New Roman&quot;;display: inline;">&#160;
</div></div><div style="font-size: 10.0pt;font-family: &quot;Courier New&quot;;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: 12.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><b><div style="font-size: 10.0pt;font-family: &quot;Courier New&quot;;display: inline;">&#160;</div></b></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:-0.26px;white-space:nowrap">Semiannual </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:1423.74px;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:550px;font-weight:bold;text-transform:uppercase;position:absolute;top:-88.3px;left:0px;white-space:nowrap">Franklin </div><div style="color:#ffffff;font-family:Arial, Helvetica, sans-serif;font-size:550px;font-weight:bold;text-transform:uppercase;position:absolute;top:-88.3px;left:2915.21px;letter-spacing:-0.93px;white-space:nowrap">Universal </div><div style="color:#ffffff;font-family:Arial, Helvetica, sans-serif;font-size:550px;font-weight:bold;text-transform:uppercase;position:absolute;top:611.7px;left:0px;white-space:nowrap">Trust</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:220px;position:absolute;top:2074.23px;left:0px;white-space:nowrap">February </div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:220px;position:absolute;top:2074.23px;left:941.45px;white-space:nowrap">28, </div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:220px;position:absolute;top:2074.23px;left:1308.4px;white-space:nowrap">2021</div></div>
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		<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:5369.08px;white-space:nowrap">Semiannual </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">Semiannual </div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:595.69px;left:1060.31px;white-space:nowrap">Report</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:851.69px;left:0px;white-space:nowrap">Franklin </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:851.69px;left:690.21px;white-space:nowrap">Universal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:851.69px;left:1487.2px;letter-spacing:-1.34px;white-space:nowrap">Trust</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">5</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">6</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">19</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">23</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2131.69px;left:0px;white-space:nowrap">Important </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2131.69px;left:810.35px;white-space:nowrap">Information </div><div style="font-family:Arial, 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			<div style="font-family:Arial, Helvetica, sans-serif;font-size:400px;font-weight:bold;text-transform:uppercase;position:absolute;top:-53.52px;left:0px;letter-spacing:-0.51px;white-space:nowrap">SEMIANNUAL </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:400px;font-weight:bold;text-transform:uppercase;position:absolute;top:-53.52px;left:2271.48px;white-space:nowrap">REPORT</div><div style="font-family:Arial, sans-serif;font-size:380px;position:absolute;top:795.07px;left:0px;white-space:nowrap">Franklin </div><div style="font-family:Arial, sans-serif;font-size:380px;position:absolute;top:795.07px;left:1457.1px;white-space:nowrap">Universal </div><div style="font-family:Arial, sans-serif;font-size:380px;position:absolute;top:795.07px;left:3139.64px;letter-spacing:-2.82px;white-space:nowrap">Trust</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">semi</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1990.01px;left:770.1px;white-space:nowrap">annual</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1990.01px;left:1360.63px;white-space:nowrap">report </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1990.01px;left:1880.86px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1990.01px;left:2140.93px;white-space:nowrap">Franklin </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1990.01px;left:2831.13px;white-space:nowrap">Universal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1990.01px;left:3628.13px;letter-spacing:-1.11px;white-space:nowrap">Trust </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1990.01px;left:4081.46px;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;white-space:nowrap">period</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2240.01px;left:850.61px;white-space:nowrap">ended </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2240.01px;left:1401.15px;white-space:nowrap">February </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2240.01px;left:2171.43px;white-space:nowrap">28, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2240.01px;left:2471.66px;white-space:nowrap">2021</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2240.01px;left:2872.09px;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;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3191.61px;left:947.2px;white-space:nowrap">primary </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3191.61px;left:1597.24px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3191.61px;left:2517.63px;white-space:nowrap">objective </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3191.61px;left:3278.06px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3191.61px;left:3458.06px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3191.61px;left:3658.18px;white-space:nowrap">provide </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3191.61px;left:4298.55px;white-space:nowrap">high, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3441.61px;left:0px;white-space:nowrap">current </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3441.61px;left:610.22px;white-space:nowrap">income </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3441.61px;left:1240.49px;white-space:nowrap">consistent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3441.61px;left:2100.94px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3441.61px;left:2471.04px;white-space:nowrap">preservation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3441.61px;left:3511.58px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3441.61px;left:3711.71px;white-space:nowrap">capital. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3441.61px;left:4332.04px;white-space:nowrap">Its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3691.61px;left:0px;white-space:nowrap">secondary </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3691.61px;left:880.49px;white-space:nowrap">objective </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3691.61px;left:1640.92px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3691.61px;left:1820.92px;white-space:nowrap">growth </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3691.61px;left:2411.19px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3691.61px;left:2611.32px;white-space:nowrap">income </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3691.61px;left:3241.58px;white-space:nowrap">through </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3691.61px;left:3902.08px;white-space:nowrap">dividend </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3941.61px;left:0px;white-space:nowrap">increases </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3941.61px;left:820.37px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3941.61px;left:1170.7px;white-space:nowrap">capital </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3941.61px;left:1741.03px;white-space:nowrap">appreciation.</div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:4517.87px;left:0px;white-space:nowrap">Performance </div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:4517.87px;left:1560.63px;white-space:nowrap">Overview</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4893.21px;left:0px;white-space:nowrap">For </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4893.21px;left:320.01px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4893.21px;left:620.24px;white-space:nowrap">six </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4893.21px;left:890.24px;white-space:nowrap">months </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4893.21px;left:1530.53px;white-space:nowrap">under </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4893.21px;left:2040.91px;letter-spacing:-1.24px;white-space:nowrap">review, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4893.21px;left:2651.13px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4893.21px;left:2951.37px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4893.21px;left:3538.39px;white-space:nowrap">cumulative </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4893.21px;left:4448.76px;white-space:nowrap">total </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5143.21px;left:0px;white-space:nowrap">returns </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5143.21px;left:610.22px;white-space:nowrap">were </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5143.21px;left:1050.38px;white-space:nowrap">+5.18% </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5143.21px;left:1715.89px;white-space:nowrap">based </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5143.21px;left:2256.33px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5143.21px;left:2506.55px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5143.21px;left:2806.79px;white-space:nowrap">asset </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5143.21px;left:3287.02px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5143.21px;left:3767.34px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5143.21px;left:4117.68px;white-space:nowrap">+7.34% </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5393.21px;left:0px;white-space:nowrap">based </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5393.21px;left:540.44px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5393.21px;left:790.66px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5393.21px;left:1390.78px;white-space:nowrap">price, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5393.21px;left:1880.95px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5393.21px;left:2121.06px;white-space:nowrap">shown </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5393.21px;left:2691.39px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5393.21px;left:2881.49px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5393.21px;left:3181.73px;white-space:nowrap">Performance </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5643.21px;left:0px;white-space:nowrap">Summary </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5643.21px;left:819.89px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5643.21px;left:1069.9px;white-space:nowrap">page </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5643.21px;left:1520.13px;white-space:nowrap">5</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5643.21px;left:1620.23px;white-space:nowrap">. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5643.21px;left:1720.04px;white-space:nowrap">For </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5643.21px;left:2039.83px;white-space:nowrap">comparison, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5643.21px;left:3070.05px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5643.21px;left:3370.07px;white-space:nowrap">Credit </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5643.21px;left:3900.01px;white-space:nowrap">Suisse </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5643.21px;left:4490.07px;white-space:nowrap">(CS) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5893.21px;left:0px;white-space:nowrap">High </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5893.21px;left:416.95px;letter-spacing:-1.11px;white-space:nowrap">Yield </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5893.21px;left:860.54px;white-space:nowrap">Index, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5893.21px;left:1400.89px;white-space:nowrap">which </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5893.21px;left:1911.09px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5893.21px;left:2091.09px;white-space:nowrap">designed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5893.21px;left:2871.74px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5893.21px;left:3071.87px;white-space:nowrap">mirror </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5893.21px;left:3591.74px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5893.21px;left:3891.97px;white-space:nowrap">investable </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6143.21px;left:0px;white-space:nowrap">universe </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6143.21px;left:730.37px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6143.21px;left:930.5px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6143.21px;left:1230.73px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6143.21px;left:1630.81px;white-space:nowrap">dollar-denominated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6143.21px;left:3221.81px;white-space:nowrap">high-yield </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6143.21px;left:4042.27px;white-space:nowrap">debt </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6393.21px;left:0px;white-space:nowrap">market, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6393.21px;left:650.13px;white-space:nowrap">posted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6393.21px;left:1240.58px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6393.21px;left:1390.69px;white-space:nowrap">+6.31% </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6393.21px;left:2056.2px;white-space:nowrap">total </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6393.21px;left:2446.44px;white-space:nowrap">return,</div><div style="font-family:Arial, sans-serif;font-size:104.9px;position:absolute;top:6396.82px;left:2966.66px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6393.21px;left:3075.03px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6393.21px;left:3425.36px;white-space:nowrap">utilities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6393.21px;left:4025.57px;white-space:nowrap">stocks, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6643.21px;left:0px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6643.21px;left:240.12px;white-space:nowrap">measured </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6643.21px;left:1090.55px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6643.21px;left:1330.66px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6643.21px;left:1630.9px;white-space:nowrap">Standard </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6643.21px;left:2411.46px;white-space:nowrap">&amp; </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6643.21px;left:2581.52px;letter-spacing:0.57px;white-space:nowrap">Poor&#8217;s</div><div style="font-family:Arial, sans-serif;font-size:104.9px;position:absolute;top:6646.82px;left:3095.16px;white-space:nowrap">&#174;</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6643.21px;left:3222.49px;white-space:nowrap">(S&amp;P</div><div style="font-family:Arial, sans-serif;font-size:104.9px;position:absolute;top:6646.82px;left:3642.6px;white-space:nowrap">&#174;</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6643.21px;left:3719.93px;white-space:nowrap">) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6643.21px;left:3829.88px;white-space:nowrap">500 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6643.21px;left:4180.21px;white-space:nowrap">Utilities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6893.21px;left:0px;white-space:nowrap">Index, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6893.21px;left:540.35px;white-space:nowrap">which </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6893.21px;left:1050.56px;white-space:nowrap">tracks </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6893.21px;left:1580.63px;white-space:nowrap">all </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6893.21px;left:1810.72px;white-space:nowrap">electric </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6893.21px;left:2430.88px;white-space:nowrap">utility </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6893.21px;left:2890.99px;white-space:nowrap">stocks </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6893.21px;left:3451.11px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6893.21px;left:3641.22px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6893.21px;left:3941.46px;white-space:nowrap">broad </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7143.21px;left:0px;letter-spacing:-0.81px;white-space:nowrap">S&amp;P </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7143.21px;left:406.93px;white-space:nowrap">500</div><div style="font-family:Arial, sans-serif;font-size:104.9px;position:absolute;top:7146.82px;left:707.26px;white-space:nowrap">&#174;</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7143.21px;left:834.59px;white-space:nowrap">Index, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7143.21px;left:1374.94px;white-space:nowrap">posted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7143.21px;left:1965.39px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7143.21px;left:2115.5px;white-space:nowrap">+0.22% </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7143.21px;left:2781.01px;white-space:nowrap">total </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7143.21px;left:3171.25px;white-space:nowrap">return </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7143.21px;left:3691.47px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7143.21px;left:3951.54px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7143.21px;left:4251.77px;white-space:nowrap">same </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7393.21px;left:0px;white-space:nowrap">period.</div><div style="font-family:Arial, sans-serif;font-size:104.9px;position:absolute;top:7396.82px;left:550.37px;white-space:nowrap">2</div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:7823.21px;left:0px;white-space:nowrap">Performance </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:7823.21px;left:1080.44px;white-space:nowrap">data </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:7823.21px;left:1480.78px;white-space:nowrap">represent </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:7823.21px;left:2291.22px;white-space:nowrap">past </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:7823.21px;left:2681.46px;white-space:nowrap">performance, </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:7823.21px;left:3791.95px;white-space:nowrap">which </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:7823.21px;left:4302.16px;white-space:nowrap">does </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:8073.21px;left:0px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:8073.21px;left:300.23px;white-space:nowrap">guarantee </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:8073.21px;left:1160.95px;white-space:nowrap">future </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:8073.21px;left:1671.24px;white-space:nowrap">results. </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:8073.21px;left:2301.42px;white-space:nowrap">Investment </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:8073.21px;left:3231.83px;white-space:nowrap">return </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:8073.21px;left:3752.05px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:8073.21px;left:4102.38px;white-space:nowrap">principal </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:8323.21px;left:0px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:8323.21px;left:480.32px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:8323.21px;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:8323.21px;left:1560.76px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:8323.21px;left:1911.09px;white-space:nowrap">you </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:8323.21px;left:2251.32px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:8323.21px;left:2641.38px;white-space:nowrap">have </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:8323.21px;left:3081.71px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:8323.21px;left:3231.83px;white-space:nowrap">gain </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:8323.21px;left:3622.15px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:8323.21px;left:3832.21px;white-space:nowrap">loss </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:8323.21px;left:4202.31px;white-space:nowrap">when </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:8573.21px;left:0px;white-space:nowrap">you </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:8573.21px;left:340.22px;white-space:nowrap">sell </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:8573.21px;left:660.32px;white-space:nowrap">your </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:8573.21px;left:1060.49px;white-space:nowrap">shares. </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:8573.21px;left:1700.77px;white-space:nowrap">Current </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:8573.21px;left:2350.99px;white-space:nowrap">performance </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:8573.21px;left:3411.47px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:8573.21px;left:3801.53px;white-space:nowrap">differ </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:8573.21px;left:4251.71px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:8823.21px;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:8823.21px;left:590.27px;white-space:nowrap">shown.</div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:9399.47px;left:0px;white-space:nowrap">Economic </div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:9399.47px;left:1213.8px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:9399.47px;left:1719.83px;white-space:nowrap">Market </div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:9399.47px;left:2586.67px;white-space:nowrap">Overview</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9774.81px;left:0px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9774.81px;left:360.18px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9774.81px;left:760.25px;white-space:nowrap">bond </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9774.81px;left:1210.69px;white-space:nowrap">market, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9774.81px;left:1860.82px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9774.81px;left:2100.94px;white-space:nowrap">measured </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9774.81px;left:2951.37px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9774.81px;left:3191.48px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9774.81px;left:3491.72px;white-space:nowrap">Bloomberg </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10024.81px;left:0px;white-space:nowrap">Barclays </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10024.81px;left:740.21px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10024.81px;left:1130.36px;white-space:nowrap">Aggregate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10024.81px;left:2011.03px;white-space:nowrap">Bond </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10024.81px;left:2481.42px;white-space:nowrap">Index, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10024.81px;left:3021.77px;white-space:nowrap">posted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10024.81px;left:3612.22px;white-space:nowrap">modestly </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10274.81px;left:0px;white-space:nowrap">negative </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10274.81px;left:730.55px;white-space:nowrap">total </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10274.81px;left:1120.78px;white-space:nowrap">returns </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10274.81px;left:1731.01px;white-space:nowrap">during </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10274.81px;left:2281.38px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10274.81px;left:2581.61px;white-space:nowrap">six </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10274.81px;left:2851.61px;white-space:nowrap">months </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10274.81px;left:3491.89px;white-space:nowrap">ended </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10274.81px;left:4042.44px;white-space:nowrap">February </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10524.81px;left:0px;white-space:nowrap">28, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10524.81px;left:300.23px;white-space:nowrap">2021, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10524.81px;left:800.68px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10524.81px;left:1040.8px;white-space:nowrap">continued </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10524.81px;left:1871.46px;white-space:nowrap">economic </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10524.81px;left:2691.83px;white-space:nowrap">recovery </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10524.81px;left:3432.04px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10524.81px;left:3782.37px;white-space:nowrap">additional </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10774.81px;left:0px;white-space:nowrap">government </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10774.81px;left:1000.55px;white-space:nowrap">stimulus </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10774.81px;left:1710.7px;white-space:nowrap">led </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10774.81px;left:2000.92px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10774.81px;left:2201.04px;white-space:nowrap">higher </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10774.81px;left:2751.42px;white-space:nowrap">yields </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10774.81px;left:3261.62px;white-space:nowrap">(which </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10774.81px;left:3831.77px;white-space:nowrap">move </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11024.81px;left:0px;white-space:nowrap">inversely </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11024.81px;left:760.25px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11024.81px;left:960.38px;white-space:nowrap">prices) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11024.81px;left:1550.48px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11024.81px;left:1810.55px;white-space:nowrap">most </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11024.81px;left:2250.62px;white-space:nowrap">bonds. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11024.81px;left:2831.13px;white-space:nowrap">As </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11024.81px;left:3091.2px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11024.81px;left:3391.44px;white-space:nowrap">period </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11024.81px;left:3941.81px;white-space:nowrap">began, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11274.81px;left:0px;white-space:nowrap">investors </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11274.81px;left:770.27px;white-space:nowrap">were </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11274.81px;left:1210.43px;white-space:nowrap">adjusting </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11274.81px;left:1980.97px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11274.81px;left:2181.09px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11274.81px;left:2481.33px;white-space:nowrap">disruption </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11274.81px;left:3311.81px;white-space:nowrap">caused </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11274.81px;left:3942.25px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11274.81px;left:4182.36px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11524.81px;left:0px;white-space:nowrap">novel </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11524.81px;left:480.32px;white-space:nowrap">coronavirus </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11524.81px;left:1460.74px;white-space:nowrap">(COVID-19) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11524.81px;left:2460.85px;white-space:nowrap">pandemic. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11524.81px;left:3341.34px;white-space:nowrap">Before </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11524.81px;left:3921.68px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11524.81px;left:4221.91px;white-space:nowrap">period, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11774.81px;left:0px;white-space:nowrap">investor </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11774.81px;left:680.27px;text-rendering:optimizeLegibility;white-space:nowrap">flight </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11774.81px;left:1110.5px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11774.81px;left:1310.63px;white-space:nowrap">perceived </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11774.81px;left:2141.1px;white-space:nowrap">safety </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11774.81px;left:2671.35px;white-space:nowrap">had </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11774.81px;left:3021.68px;white-space:nowrap">driven </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11774.81px;left:3561.94px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11774.81px;left:3862.18px;white-space:nowrap">10-year </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12024.81px;left:0px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12024.81px;left:396.83px;letter-spacing:-0.74px;white-space:nowrap">Treasury </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12024.81px;left:1150.31px;white-space:nowrap">yield </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12024.81px;left:1570.52px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12024.81px;left:1770.64px;white-space:nowrap">near </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12024.81px;left:2180.92px;white-space:nowrap">record </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12024.81px;left:2741.13px;white-space:nowrap">lows. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12024.81px;left:3201.24px;white-space:nowrap">During </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12024.81px;left:3781.49px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12024.81px;left:4081.73px;white-space:nowrap">period, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1560.01px;left:5220px;letter-spacing:-1.1px;white-space:nowrap">however, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1560.01px;left:5990.45px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1560.01px;left:6290.68px;white-space:nowrap">implementation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1560.01px;left:7561.32px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1560.01px;left:7761.45px;white-space:nowrap">mass </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1560.01px;left:8241.5px;white-space:nowrap">vaccination </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1560.01px;left:9192.04px;white-space:nowrap">programs </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1810.01px;left:5220px;white-space:nowrap">alongside </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1810.01px;left:6040.63px;white-space:nowrap">improving </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1810.01px;left:6870.94px;white-space:nowrap">economic </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1810.01px;left:7691.31px;white-space:nowrap">indicators </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1810.01px;left:8511.68px;white-space:nowrap">prompted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1810.01px;left:9322.12px;white-space:nowrap">investors </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2060.01px;left:5220px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2060.01px;left:5420.13px;white-space:nowrap">anticipate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2060.01px;left:6240.67px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2060.01px;left:6590.92px;white-space:nowrap">increased </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2060.01px;left:7421.4px;text-rendering:optimizeLegibility;white-space:nowrap">inflation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2060.01px;left:8091.83px;white-space:nowrap">would </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2060.01px;left:8612.14px;white-space:nowrap">lead </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2060.01px;left:9002.46px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2060.01px;left:9202.59px;white-space:nowrap">higher </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2310.01px;left:5220px;white-space:nowrap">interest </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2310.01px;left:5860.28px;white-space:nowrap">rates.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2740.01px;left:5220px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2740.01px;left:5580.18px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2740.01px;left:5980.25px;white-space:nowrap">Federal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2740.01px;left:6640.58px;white-space:nowrap">Reserve </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2740.01px;left:7360.84px;white-space:nowrap">(Fed) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2740.01px;left:7840.9px;white-space:nowrap">maintained </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2740.01px;left:8771.48px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2740.01px;left:9071.72px;white-space:nowrap">federal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2990.01px;left:5220px;white-space:nowrap">funds </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2990.01px;left:5710.34px;white-space:nowrap">target </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2990.01px;left:6220.63px;white-space:nowrap">rate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2990.01px;left:6580.81px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2990.01px;left:6780.94px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2990.01px;left:6931.05px;white-space:nowrap">range </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2990.01px;left:7441.44px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2990.01px;left:7641.56px;white-space:nowrap">0.00%&#8211;0.25% </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2990.01px;left:8812.44px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2990.01px;left:9162.77px;white-space:nowrap">continued </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3240.01px;left:5220px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3240.01px;left:5450.01px;white-space:nowrap">program </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3240.01px;left:6170.27px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3240.01px;left:6370.4px;white-space:nowrap">open-ended </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3240.01px;left:7381.32px;white-space:nowrap">purchasing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3240.01px;left:8311.9px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3240.01px;left:8512.03px;white-space:nowrap">government-</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3490.01px;left:5220px;white-space:nowrap">backed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3490.01px;left:5850.44px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3490.01px;left:6200.77px;white-space:nowrap">corporate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3490.01px;left:7011.21px;white-space:nowrap">bonds </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3490.01px;left:7551.65px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3490.01px;left:7791.77px;white-space:nowrap">necessary </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3490.01px;left:8662.15px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3490.01px;left:8862.28px;white-space:nowrap">provide </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3740.01px;left:5220px;white-space:nowrap">liquidity </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3740.01px;left:5870.3px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3740.01px;left:6070.43px;white-space:nowrap">bond </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3740.01px;left:6520.87px;white-space:nowrap">markets.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3740.01px;left:7270.99px;white-space:nowrap">Furthermore, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3740.01px;left:8361.27px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3740.01px;left:8661.5px;white-space:nowrap">Fed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3740.01px;left:9021.68px;white-space:nowrap">signaled </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3740.01px;left:9742.21px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3990.01px;left:5220px;white-space:nowrap">interest </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3990.01px;left:5860.28px;white-space:nowrap">rates </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3990.01px;left:6310.46px;white-space:nowrap">would </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3990.01px;left:6830.77px;white-space:nowrap">potentially </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3990.01px;left:7691.31px;white-space:nowrap">remain </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3990.01px;left:8291.51px;letter-spacing:-1.99px;white-space:nowrap">low, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3990.01px;left:8651.69px;white-space:nowrap">even </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3990.01px;left:9092.02px;white-space:nowrap">if </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3990.01px;left:9232.03px;text-rendering:optimizeLegibility;white-space:nowrap">inflation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4240.01px;left:5220px;white-space:nowrap">moderately </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4240.01px;left:6160.43px;white-space:nowrap">exceeded </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4240.01px;left:6991.08px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4240.01px;left:7291.32px;letter-spacing:-0.54px;white-space:nowrap">Fed&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4240.01px;left:7778.23px;white-space:nowrap">2% </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4240.01px;left:8088.4px;white-space:nowrap">target </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4240.01px;left:8598.69px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4240.01px;left:8858.76px;white-space:nowrap">some </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4240.01px;left:9348.93px;white-space:nowrap">time. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4670.01px;left:5220px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4670.01px;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:4670.01px;left:6370.31px;white-space:nowrap">bonds, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4670.01px;left:6960.76px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4670.01px;left:7200.88px;white-space:nowrap">measured </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4670.01px;left:8051.31px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4670.01px;left:8291.43px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4670.01px;left:8591.66px;white-space:nowrap">Bloomberg </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4920.01px;left:5220px;white-space:nowrap">Barclays </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4920.01px;left:5960.21px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4920.01px;left:6357.04px;letter-spacing:-0.74px;white-space:nowrap">Treasury </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4920.01px;left:7110.53px;white-space:nowrap">Index, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4920.01px;left:7650.88px;white-space:nowrap">posted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4920.01px;left:8241.33px;white-space:nowrap">negative </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4920.01px;left:8971.88px;white-space:nowrap">total </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4920.01px;left:9362.11px;white-space:nowrap">returns </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5170.01px;left:5220px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5170.01px;left:5480.07px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5170.01px;left:5780.3px;white-space:nowrap">period. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5170.01px;left:6377.43px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5170.01px;left:6737.61px;white-space:nowrap">10-year </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5170.01px;left:7397.93px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5170.01px;left:7794.76px;letter-spacing:-0.74px;white-space:nowrap">Treasury </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5170.01px;left:8548.24px;white-space:nowrap">yield </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5170.01px;left:8968.45px;white-space:nowrap">rose </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5170.01px;left:9368.61px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5420.01px;left:5220px;white-space:nowrap">near-record </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5420.01px;left:6200.42px;white-space:nowrap">lows </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5420.01px;left:6610.52px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5420.01px;left:6810.64px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5420.01px;left:7110.88px;white-space:nowrap">beginning </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5420.01px;left:7941.62px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5420.01px;left:8141.75px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5420.01px;left:8441.98px;white-space:nowrap">reporting </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5420.01px;left:9202.41px;white-space:nowrap">period </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5670.01px;left:5220px;white-space:nowrap">amid </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5670.01px;left:5660.16px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5670.01px;left:5810.27px;text-rendering:optimizeLegibility;white-space:nowrap">significant </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5670.01px;left:6660.7px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5670.01px;left:7060.78px;white-space:nowrap">federal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5670.01px;left:7661.16px;white-space:nowrap">budget </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5670.01px;left:8261.72px;text-rendering:optimizeLegibility;white-space:nowrap">deficit </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5670.01px;left:8781.94px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5670.01px;left:9132.28px;white-space:nowrap">high </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5670.01px;left:9522.6px;white-space:nowrap">levels </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5920.01px;left:5220px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5920.01px;left:5420.13px;white-space:nowrap">issuance. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5920.01px;left:6227.31px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5920.01px;left:6587.49px;letter-spacing:-0.54px;white-space:nowrap">Fed&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5920.01px;left:7074.4px;white-space:nowrap">new </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5920.01px;left:7454.62px;text-rendering:optimizeLegibility;white-space:nowrap">inflation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5920.01px;left:8125.05px;white-space:nowrap">policy </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5920.01px;left:8635.25px;white-space:nowrap">also </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5920.01px;left:9015.47px;white-space:nowrap">pressured </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6170.01px;left:5220px;letter-spacing:-0.56px;white-space:nowrap">Treasuries, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6170.01px;left:6163.59px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6170.01px;left:6403.71px;white-space:nowrap">renewed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6170.01px;left:7144.19px;white-space:nowrap">strength </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6170.01px;left:7844.59px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6170.01px;left:8034.7px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6170.01px;left:8334.93px;white-space:nowrap">economy </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6170.01px;left:9115.31px;white-space:nowrap">prompted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6420.01px;left:5220px;white-space:nowrap">investors </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6420.01px;left:5990.27px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6420.01px;left:6190.4px;white-space:nowrap">increase </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6420.01px;left:6920.77px;white-space:nowrap">their </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6420.01px;left:7320.94px;text-rendering:optimizeLegibility;white-space:nowrap">inflation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6420.01px;left:7991.37px;white-space:nowrap">expectations. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6420.01px;left:9102.04px;white-space:nowrap">Mortgage-</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6670.01px;left:5220px;white-space:nowrap">backed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6670.01px;left:5850.44px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6670.01px;left:6660.7px;white-space:nowrap">(MBS), </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6670.01px;left:7270.66px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6670.01px;left:7510.78px;white-space:nowrap">measured </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6670.01px;left:8361.21px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6670.01px;left:8601.33px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6670.01px;left:8901.56px;white-space:nowrap">Bloomberg </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6920.01px;left:5220px;white-space:nowrap">Barclays </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6920.01px;left:5959.88px;white-space:nowrap">MBS </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6920.01px;left:6399.61px;letter-spacing:0px;white-space:nowrap">Index, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6920.01px;left:6939.62px;white-space:nowrap">posted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6920.01px;left:7529.73px;letter-spacing:0px;white-space:nowrap">marginally </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6920.01px;left:8399.68px;white-space:nowrap">negative </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6920.01px;left:9129.89px;white-space:nowrap">total </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6920.01px;left:9519.79px;white-space:nowrap">returns </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7170.01px;left:5220px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7170.01px;left:5480.07px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7170.01px;left:5780.3px;white-space:nowrap">period </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7170.01px;left:6330.67px;white-space:nowrap">despite </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7170.01px;left:6961.11px;white-space:nowrap">Fed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7170.01px;left:7321.29px;white-space:nowrap">support, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7170.01px;left:8021.69px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7170.01px;left:8261.81px;white-space:nowrap">low </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7170.01px;left:8581.9px;white-space:nowrap">interest </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7170.01px;left:9222.19px;white-space:nowrap">rates </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7170.01px;left:9672.36px;white-space:nowrap">led </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7420.01px;left:5220px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7420.01px;left:5420.13px;white-space:nowrap">accelerated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7420.01px;left:6400.72px;white-space:nowrap">prepayments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7420.01px;left:7491.27px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7420.01px;left:7901.28px;white-space:nowrap">mortgage </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7420.01px;left:8711.72px;text-rendering:optimizeLegibility;white-space:nowrap">refinancing.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7850.01px;left:5220px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7850.01px;left:5620.08px;white-space:nowrap">corporate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7850.01px;left:6430.52px;white-space:nowrap">bond </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7850.01px;left:6880.96px;white-space:nowrap">performance </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7850.01px;left:7941.45px;white-space:nowrap">varied </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7850.01px;left:8481.71px;white-space:nowrap">based </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7850.01px;left:9022.15px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7850.01px;left:9272.37px;white-space:nowrap">credit </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8100.01px;left:5220px;white-space:nowrap">rating, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8100.01px;left:5770.28px;text-rendering:optimizeLegibility;white-space:nowrap">reflecting </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8100.01px;left:6550.66px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8100.01px;left:6850.9px;white-space:nowrap">recovery </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8100.01px;left:7591.11px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8100.01px;left:7791.24px;white-space:nowrap">credit </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8100.01px;left:8281.41px;white-space:nowrap">markets </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8100.01px;left:8971.52px;white-space:nowrap">following </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8100.01px;left:9721.93px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8350.01px;left:5220px;white-space:nowrap">onset </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8350.01px;left:5710.34px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8350.01px;left:5910.47px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8350.01px;left:6210.7px;white-space:nowrap">pandemic. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8350.01px;left:7091.19px;white-space:nowrap">While </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8350.01px;left:7591.29px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8350.01px;left:7891.52px;white-space:nowrap">strengthening </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8350.01px;left:9032.34px;white-space:nowrap">economy </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8600.01px;left:5220px;white-space:nowrap">pressured </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8600.01px;left:6070.43px;white-space:nowrap">corporate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8600.01px;left:6880.87px;white-space:nowrap">bonds </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8600.01px;left:7421.31px;letter-spacing:-1.21px;white-space:nowrap">generally, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8600.01px;left:8238.43px;white-space:nowrap">it </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8600.01px;left:8378.44px;white-space:nowrap">also </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8600.01px;left:8758.65px;white-space:nowrap">had </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8600.01px;left:9108.98px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8600.01px;left:9409.22px;letter-spacing:-0.46px;white-space:nowrap">effect </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8850.01px;left:5220px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8850.01px;left:5420.13px;white-space:nowrap">tempering </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8850.01px;left:6270.56px;white-space:nowrap">concerns </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8850.01px;left:7050.94px;white-space:nowrap">about </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8850.01px;left:7551.39px;white-space:nowrap">credit </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8850.01px;left:8041.55px;letter-spacing:-1.48px;white-space:nowrap">quality, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8850.01px;left:8648.53px;white-space:nowrap">which </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8850.01px;left:9158.73px;text-rendering:optimizeLegibility;white-space:nowrap">benefited </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9100.01px;left:5220px;white-space:nowrap">lower-quality </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9100.01px;left:6280.4px;white-space:nowrap">bonds. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9100.01px;left:6870.85px;letter-spacing:-0.95px;white-space:nowrap">Consequently, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9100.01px;left:8058.25px;white-space:nowrap">high-yield </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9100.01px;left:8878.71px;white-space:nowrap">corporate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9350.01px;left:5220px;white-space:nowrap">bonds, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9350.01px;left:5810.45px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9350.01px;left:6050.57px;white-space:nowrap">represented </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9350.01px;left:7061.22px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9350.01px;left:7301.34px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9350.01px;left:7601.57px;white-space:nowrap">Bloomberg </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9350.01px;left:8522.05px;white-space:nowrap">Barclays </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9350.01px;left:9262.27px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9600.01px;left:5220px;white-space:nowrap">Corporate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9600.01px;left:6070.43px;white-space:nowrap">High </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9600.01px;left:6487.38px;letter-spacing:-1.11px;white-space:nowrap">Yield </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9600.01px;left:6930.97px;white-space:nowrap">Bond </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9600.01px;left:7401.36px;white-space:nowrap">Index, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9600.01px;left:7941.71px;white-space:nowrap">posted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9600.01px;left:8532.16px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9600.01px;left:8682.28px;white-space:nowrap">solid </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9600.01px;left:9102.48px;white-space:nowrap">advance, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9850.01px;left:5220px;white-space:nowrap">while </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9850.01px;left:5680.2px;white-space:nowrap">investment-grade </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9850.01px;left:7120.9px;white-space:nowrap">corporate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9850.01px;left:7931.34px;white-space:nowrap">bonds, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9850.01px;left:8521.79px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9850.01px;left:8761.9px;white-space:nowrap">represented </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9850.01px;left:9772.56px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10100.01px;left:5220px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10100.01px;left:5520.23px;white-space:nowrap">Bloomberg </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10100.01px;left:6440.71px;white-space:nowrap">Barclays </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10100.01px;left:7180.93px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10100.01px;left:7581.01px;white-space:nowrap">Corporate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10100.01px;left:8431.44px;white-space:nowrap">Bond </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10100.01px;left:8901.83px;white-space:nowrap">Index, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10100.01px;left:9442.18px;white-space:nowrap">were </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10350.01px;left:5220px;white-space:nowrap">down </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10350.01px;left:5700.32px;letter-spacing:-1.48px;white-space:nowrap">slightly.</div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:10926.27px;left:5220px;white-space:nowrap">Investment </div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:10926.27px;left:6563.93px;white-space:nowrap">Strategy</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11301.61px;left:5220px;letter-spacing:-1.08px;white-space:nowrap">We </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11301.61px;left:5536.76px;white-space:nowrap">invest </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11301.61px;left:6056.98px;white-space:nowrap">primarily </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11301.61px;left:6787px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11301.61px;left:6977.11px;white-space:nowrap">two </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11301.61px;left:7307.23px;white-space:nowrap">asset </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11301.61px;left:7787.46px;white-space:nowrap">classes: </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11301.61px;left:8487.69px;white-space:nowrap">high-yield </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11551.61px;left:5220px;white-space:nowrap">bonds </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11551.61px;left:5760.44px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11551.61px;left:6110.77px;white-space:nowrap">utility </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11551.61px;left:6570.88px;white-space:nowrap">stocks. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11551.61px;left:7181.02px;white-space:nowrap">Within </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11551.61px;left:7731.12px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11551.61px;left:8031.36px;white-space:nowrap">high-yield </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11551.61px;left:8851.82px;white-space:nowrap">portion </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11551.61px;left:9452.2px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11801.61px;left:5220px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11801.61px;left:5520.23px;white-space:nowrap">portfolio, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11801.61px;left:6260.63px;white-space:nowrap">we </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11801.61px;left:6540.73px;white-space:nowrap">use </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11801.61px;left:6880.96px;white-space:nowrap">fundamental </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11801.61px;left:7921.67px;white-space:nowrap">research </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11801.61px;left:8671.99px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11801.61px;left:8872.12px;white-space:nowrap">invest </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11801.61px;left:9392.34px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11801.61px;left:9582.45px;white-space:nowrap">a </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;white-space:nowrap">Credit </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:-21.41px;left:1021.02px;white-space:nowrap">Suisse </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:-21.41px;left:1451.33px;white-space:nowrap">Group.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:187.39px;left:0px;white-space:nowrap">2. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:187.39px;left:145.94px;white-space:nowrap">Source: </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:187.39px;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:396.19px;left:0px;white-space:nowrap">The </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:396.19px;left:262.58px;white-space:nowrap">indexes </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:396.19px;left:751.33px;white-space:nowrap">are </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:396.19px;left:977.42px;white-space:nowrap">unmanaged </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:396.19px;left:1706.95px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:396.19px;left:1962.34px;white-space:nowrap">include </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:396.19px;left:2414.61px;white-space:nowrap">reinvestment </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:396.19px;left:3202.27px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:396.19px;left:3348.2px;white-space:nowrap">any </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:396.19px;left:3596.25px;white-space:nowrap">income </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:396.19px;left:4055.7px;white-space:nowrap">or </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:396.19px;left:4208.83px;white-space:nowrap">distributions. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:396.19px;left:4979.69px;white-space:nowrap">They </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:396.19px;left:5307.89px;white-space:nowrap">do </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:396.19px;left:5490.31px;white-space:nowrap">not </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:396.19px;left:5709.22px;text-rendering:optimizeLegibility;white-space:nowrap">reflect </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:396.19px;left:6103.05px;white-space:nowrap">any </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:396.19px;left:6351.09px;white-space:nowrap">fees, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:396.19px;left:6672.11px;white-space:nowrap">expenses </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:396.19px;left:7270.31px;white-space:nowrap">or </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:396.19px;left:7423.44px;white-space:nowrap">sales </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:396.19px;left:7766.25px;white-space:nowrap">charges. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:396.19px;left:8306.02px;white-space:nowrap">One </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:396.19px;left:8590.55px;white-space:nowrap">cannot </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:396.19px;left:9021.02px;white-space:nowrap">invest </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:396.19px;left:9400.31px;white-space:nowrap">directly </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:396.19px;left:9852.42px;white-space:nowrap">in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:576.19px;left:0px;white-space:nowrap">an </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:576.19px;left:182.42px;white-space:nowrap">index, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:576.19px;left:569.06px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:576.19px;left:824.45px;white-space:nowrap">an </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:576.19px;left:1006.88px;white-space:nowrap">index </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:576.19px;left:1357.03px;white-space:nowrap">is </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:576.19px;left:1488.28px;white-space:nowrap">not </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:576.19px;left:1707.19px;white-space:nowrap">representative </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:576.19px;left:2575.16px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:576.19px;left:2721.09px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:576.19px;left:2940px;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:576.19px;left:3368.05px;white-space:nowrap">portfolio. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:784.99px;left:0px;white-space:nowrap">See </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:784.99px;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:784.99px;left:2618.2px;white-space:nowrap">for </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:784.99px;left:2807.81px;white-space:nowrap">additional </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:784.99px;left:3406.02px;white-space:nowrap">data </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:784.99px;left:3697.89px;white-space:nowrap">provider </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:784.99px;left:4208.36px;white-space:nowrap">information.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;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:130px;font-weight:bold;position:absolute;top:1022.59px;left:269.77px;white-space:nowrap">dollar </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:1022.59px;left:663.52px;white-space:nowrap">value, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:1022.59px;left:1072.03px;white-space:nowrap">number </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:1022.59px;left:1589.61px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:1022.59px;left:1749.92px;white-space:nowrap">shares </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:1022.59px;left:2209.45px;white-space:nowrap">or </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:1022.59px;left:2377.11px;white-space:nowrap">principal </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:1022.59px;left:2960.47px;white-space:nowrap">amount, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:1022.59px;left:3507.19px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:1022.59px;left:3776.95px;white-space:nowrap">names </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:1022.59px;left:4229.14px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:1022.59px;left:4389.45px;white-space:nowrap">all </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:1022.59px;left:4571.88px;white-space:nowrap">portfolio </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:1022.59px;left:5140.31px;white-space:nowrap">holdings </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:1022.59px;left:5723.52px;white-space:nowrap">are </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:1022.59px;left:5956.95px;white-space:nowrap">listed </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:1022.59px;left:6336.17px;white-space:nowrap">in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:1022.59px;left:6489.3px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:1022.59px;left:6722.58px;letter-spacing:-0.68px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:1022.59px;left:7184.38px;white-space:nowrap">Statement </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:1022.59px;left:7855.08px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:1022.59px;left:8015.39px;white-space:nowrap">Investments </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:1022.59px;left:8817.5px;white-space:nowrap">(SOI).</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:1231.39px;left:0px;white-space:nowrap">The </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:1231.39px;left:269.77px;white-space:nowrap">SOI </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:1231.39px;left:532.34px;white-space:nowrap">begins </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:1231.39px;left:991.72px;white-space:nowrap">on </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:1231.39px;left:1188.52px;white-space:nowrap">page </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1233.82px;left:1531.25px;white-space:nowrap">7</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:1231.39px;left:1620.23px;white-space:nowrap">.</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;text-rendering:optimizeLegibility;white-space:nowrap">diversified </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:860.36px;white-space:nowrap">portfolio </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:1550.74px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:1750.87px;white-space:nowrap">bonds. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:2341.32px;white-space:nowrap">Within </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:2891.43px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:3191.66px;white-space:nowrap">utility </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:3651.77px;white-space:nowrap">portion </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:4252.15px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:4452.28px;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">portfolio, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:740.39px;white-space:nowrap">we </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:1020.5px;white-space:nowrap">focus </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:1500.73px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:1750.96px;white-space:nowrap">companies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:2671.44px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:3041.54px;white-space:nowrap">attractive </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:3821.84px;white-space:nowrap">dividend </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:0px;white-space:nowrap">yields </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:510.21px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:860.54px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:1230.64px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:1380.76px;white-space:nowrap">history </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:1960.93px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:2161.05px;white-space:nowrap">increasing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:3031.52px;white-space:nowrap">their </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:3431.69px;white-space:nowrap">dividends.</div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:1054.91px;left:0px;letter-spacing:0.5px;white-space:nowrap">Manager&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:1054.91px;left:1291.11px;white-space:nowrap">Discussion</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1430.24px;left:0px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1430.24px;left:360.18px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1430.24px;left:820.46px;white-space:nowrap">posted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1430.24px;left:1410.91px;white-space:nowrap">cumulative </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1430.24px;left:2321.28px;white-space:nowrap">total </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1430.24px;left:2711.51px;white-space:nowrap">returns </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1430.24px;left:3321.74px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1430.24px;left:3521.87px;white-space:nowrap">+7.34% </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1430.24px;left:4187.37px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1680.24px;left:0px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1680.24px;left:600.12px;white-space:nowrap">price </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1680.24px;left:1040.27px;white-space:nowrap">terms </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1680.24px;left:1540.28px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1680.24px;left:1890.62px;white-space:nowrap">+5.18% </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1680.24px;left:2556.12px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1680.24px;left:2746.23px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1680.24px;left:3046.46px;white-space:nowrap">asset </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1680.24px;left:3526.7px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1680.24px;left:4007.02px;white-space:nowrap">terms </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1680.24px;left:4507.03px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1930.24px;left:0px;white-space:nowrap">six-month </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1930.24px;left:830.21px;white-space:nowrap">period </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1930.24px;left:1380.59px;white-space:nowrap">under </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1930.24px;left:1890.97px;letter-spacing:-1.24px;white-space:nowrap">review. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1930.24px;left:2501.19px;white-space:nowrap">High-yield </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1930.24px;left:3351.53px;white-space:nowrap">(HY) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1930.24px;left:3771.47px;white-space:nowrap">corporate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2180.24px;left:0px;white-space:nowrap">bonds, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2180.24px;left:590.45px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2180.24px;left:830.57px;white-space:nowrap">measured </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2180.24px;left:1681px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2180.24px;left:1921.11px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2180.24px;left:2221.35px;white-space:nowrap">CS </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2180.24px;left:2521.41px;white-space:nowrap">High </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2180.24px;left:2938.36px;letter-spacing:-1.11px;white-space:nowrap">Yield </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2180.24px;left:3381.94px;white-space:nowrap">Index, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2180.24px;left:3922.29px;white-space:nowrap">posted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2430.24px;left:0px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2430.24px;left:150.12px;white-space:nowrap">+6.31% </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2430.24px;left:815.63px;white-space:nowrap">cumulative </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2430.24px;left:1726px;white-space:nowrap">total </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2430.24px;left:2116.23px;white-space:nowrap">return,</div><div style="font-family:Arial, sans-serif;font-size:104.9px;position:absolute;top:2433.85px;left:2665.61px;white-space:nowrap">1 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2430.24px;left:2753.13px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2430.24px;left:3103.46px;white-space:nowrap">utility </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2430.24px;left:3563.57px;white-space:nowrap">stocks, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2430.24px;left:4173.7px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2680.24px;left:0px;white-space:nowrap">measured </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2680.24px;left:850.43px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2680.24px;left:1090.55px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2680.24px;left:1390.78px;letter-spacing:-0.81px;white-space:nowrap">S&amp;P </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2680.24px;left:1797.71px;white-space:nowrap">500 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2680.24px;left:2148.05px;white-space:nowrap">Utilities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2680.24px;left:2778.13px;white-space:nowrap">Index, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2680.24px;left:3318.49px;white-space:nowrap">posted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2680.24px;left:3908.94px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2680.24px;left:4059.05px;white-space:nowrap">+0.22% </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2930.24px;left:0px;white-space:nowrap">cumulative </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2930.24px;left:910.37px;white-space:nowrap">total </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2930.24px;left:1300.61px;white-space:nowrap">return </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2930.24px;left:1820.83px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2930.24px;left:2080.9px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2930.24px;left:2381.13px;white-space:nowrap">same </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2930.24px;left:2871.3px;white-space:nowrap">period.</div><div style="font-family:Arial, sans-serif;font-size:104.9px;position:absolute;top:2933.85px;left:3421.67px;white-space:nowrap">2</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6067.3px;left:0px;white-space:nowrap">*</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6049.41px;left:79.69px;white-space:nowrap">Percentage </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6049.41px;left:787.27px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6049.41px;left:933.2px;white-space:nowrap">total </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6049.41px;left:1217.73px;white-space:nowrap">investments </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6049.41px;left:1954.38px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6049.41px;left:2100.31px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6049.41px;left:2319.22px;white-space:nowrap">Fund. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6049.41px;left:2688.98px;letter-spacing:-2.42px;white-space:nowrap">Total </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6049.41px;left:3002.66px;white-space:nowrap">investments </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6049.41px;left:3739.3px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6049.41px;left:3885.23px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6049.41px;left:4104.14px;white-space:nowrap">fund </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6049.41px;left:4396.02px;white-space:nowrap">include </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6241.41px;left:0px;white-space:nowrap">long-term </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6241.41px;left:590.63px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6241.41px;left:846.02px;white-space:nowrap">short </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6241.41px;left:1174.22px;white-space:nowrap">-term </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6241.41px;left:1516.8px;white-space:nowrap">investments, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6241.41px;left:2289.92px;white-space:nowrap">excluding </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6241.41px;left:2880.78px;white-space:nowrap">long-term </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6241.41px;left:3471.41px;white-space:nowrap">debt </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6241.41px;left:3763.28px;white-space:nowrap">issued </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6241.41px;left:4179.06px;white-space:nowrap">by </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6241.41px;left:4354.14px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6433.41px;left:0px;white-space:nowrap">Fund.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6643.3px;left:0px;white-space:nowrap">**</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6625.41px;left:159.38px;white-space:nowrap">Includes </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6625.41px;left:684.61px;white-space:nowrap">convertible </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6625.41px;left:1355.63px;white-space:nowrap">bonds, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6625.41px;left:1786.09px;white-space:nowrap">escrows </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6625.41px;left:2303.75px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6625.41px;left:2559.14px;white-space:nowrap">litigation </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6625.41px;left:3077.03px;white-space:nowrap">trusts, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6625.41px;left:3470.86px;white-space:nowrap">preferred </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6625.41px;left:4039.69px;white-space:nowrap">stocks, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6625.41px;left:4484.61px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6817.41px;left:0px;white-space:nowrap">warrants.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7302.9px;left:0px;white-space:nowrap">As </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7302.9px;left:260.07px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7302.9px;left:970.49px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7302.9px;left:1570.61px;white-space:nowrap">recovery </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7302.9px;left:2310.82px;white-space:nowrap">started </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7302.9px;left:2911.11px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7302.9px;left:3091.29px;white-space:nowrap">April </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7302.9px;left:3501.39px;white-space:nowrap">2020 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7302.9px;left:3951.83px;white-space:nowrap">amid </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7552.9px;left:0px;white-space:nowrap">unprecedented </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7552.9px;left:1251.04px;text-rendering:optimizeLegibility;white-space:nowrap">fiscal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7552.9px;left:1711.14px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7552.9px;left:2061.47px;white-space:nowrap">monetary </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7552.9px;left:2861.81px;white-space:nowrap">measures </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7552.9px;left:3702.13px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7552.9px;left:3942.25px;white-space:nowrap">global </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7802.9px;left:0px;white-space:nowrap">governments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7802.9px;left:1090.55px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7802.9px;left:1440.88px;white-space:nowrap">central </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7802.9px;left:2031.15px;white-space:nowrap">banks, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7802.9px;left:2611.49px;white-space:nowrap">continued </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7802.9px;left:3442.15px;white-space:nowrap">low </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7802.9px;left:3762.25px;white-space:nowrap">yields </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7802.9px;left:4272.45px;white-space:nowrap">across </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8052.9px;left:0px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8052.9px;left:300.23px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8052.9px;left:697.06px;letter-spacing:-0.74px;white-space:nowrap">Treasury </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8052.9px;left:1450.55px;white-space:nowrap">yield </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8052.9px;left:1870.75px;white-space:nowrap">curve, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8052.9px;left:2410.93px;white-space:nowrap">along </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8052.9px;left:2901.36px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8052.9px;left:3271.46px;white-space:nowrap">low </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8052.9px;left:3591.56px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8052.9px;left:3801.62px;white-space:nowrap">negative </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8302.9px;left:0px;white-space:nowrap">government </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8302.9px;left:1000.55px;white-space:nowrap">bond </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8302.9px;left:1450.99px;white-space:nowrap">yields </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8302.9px;left:1961.19px;letter-spacing:-1.34px;white-space:nowrap">globally, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8302.9px;left:2658.25px;white-space:nowrap">supported </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8302.9px;left:3508.86px;white-space:nowrap">demand </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8302.9px;left:4209.35px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8302.9px;left:4469.41px;white-space:nowrap">both </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8552.9px;left:0px;letter-spacing:-1.08px;white-space:nowrap">HY </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8552.9px;left:296.81px;white-space:nowrap">corporate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8552.9px;left:1107.25px;white-space:nowrap">bonds </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8552.9px;left:1647.69px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8552.9px;left:1998.02px;white-space:nowrap">dividend-paying </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8552.9px;left:3308.91px;white-space:nowrap">stocks </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8552.9px;left:3869.03px;white-space:nowrap">throughout </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8802.9px;left:0px;white-space:nowrap">much </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8802.9px;left:490.17px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8802.9px;left:690.29px;white-space:nowrap">2020. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8802.9px;left:1190.74px;white-space:nowrap">While </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8802.9px;left:1690.84px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8802.9px;left:1991.07px;letter-spacing:-0.54px;white-space:nowrap">Fed&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8802.9px;left:2477.99px;white-space:nowrap">support </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8802.9px;left:3128.38px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8802.9px;left:3388.45px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8802.9px;left:3688.68px;letter-spacing:-1.08px;white-space:nowrap">HY </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8802.9px;left:3985.49px;white-space:nowrap">market, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9052.9px;left:0px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9052.9px;left:190.11px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9052.9px;left:490.34px;white-space:nowrap">form </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9052.9px;left:900.35px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9052.9px;left:1100.48px;white-space:nowrap">direct </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9052.9px;left:1590.64px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9052.9px;left:1940.98px;white-space:nowrap">indirect </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9052.9px;left:2571.24px;white-space:nowrap">purchases </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9052.9px;left:3451.73px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9052.9px;left:3651.86px;letter-spacing:-1.08px;white-space:nowrap">HY </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9052.9px;left:3948.66px;white-space:nowrap">corporate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9302.9px;left:0px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9302.9px;left:810.26px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9302.9px;left:1050.38px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9302.9px;left:1350.62px;letter-spacing:-0.54px;white-space:nowrap">Fed&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9302.9px;left:1837.53px;white-space:nowrap">secondary </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9302.9px;left:2718.02px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9302.9px;left:3318.13px;white-space:nowrap">corporate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9302.9px;left:4128.57px;white-space:nowrap">facility </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9552.9px;left:0px;white-space:nowrap">were </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9552.9px;left:440.16px;white-space:nowrap">modest, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9552.9px;left:1130.45px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9552.9px;left:1430.68px;white-space:nowrap">perceived </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9552.9px;left:2261.16px;white-space:nowrap">support </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9552.9px;left:2911.55px;white-space:nowrap">had </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9552.9px;left:3261.88px;white-space:nowrap">buoyed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9552.9px;left:3902.43px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9552.9px;left:4202.67px;letter-spacing:-1.08px;white-space:nowrap">HY </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9802.9px;left:0px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9802.9px;left:600.12px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9802.9px;left:790.22px;white-space:nowrap">general, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9802.9px;left:1490.71px;white-space:nowrap">leading </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9802.9px;left:2121.24px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9802.9px;left:2321.37px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9802.9px;left:2471.48px;white-space:nowrap">persistent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9802.9px;left:3301.88px;white-space:nowrap">tailwind </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9802.9px;left:3952.18px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9802.9px;left:4212.25px;letter-spacing:-1.08px;white-space:nowrap">HY </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10052.9px;left:0px;white-space:nowrap">corporate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10052.9px;left:810.44px;white-space:nowrap">bonds. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10052.9px;left:1400.89px;white-space:nowrap">Despite </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10052.9px;left:2061.21px;white-space:nowrap">bouts </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10052.9px;left:2551.55px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10052.9px;left:2751.68px;letter-spacing:-0.36px;white-space:nowrap">risk-off </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10052.9px;left:3338.44px;white-space:nowrap">sentiment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10052.9px;left:4168.83px;white-space:nowrap">driven </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10302.9px;left:0px;white-space:nowrap">largely </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10302.9px;left:580.25px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10302.9px;left:820.37px;white-space:nowrap">factors </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10302.9px;left:1410.56px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10302.9px;left:1840.78px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10302.9px;left:2080.9px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10302.9px;left:2231.02px;white-space:nowrap">surge </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10302.9px;left:2731.29px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10302.9px;left:2921.4px;white-space:nowrap">global </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10302.9px;left:3451.82px;white-space:nowrap">COVID-19 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10302.9px;left:4332.04px;white-space:nowrap">cases </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10552.9px;left:0px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10552.9px;left:350.33px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10552.9px;left:650.57px;white-space:nowrap">political </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10552.9px;left:1300.87px;white-space:nowrap">impasse </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10552.9px;left:2021.13px;white-space:nowrap">regarding </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10552.9px;left:2831.66px;white-space:nowrap">additional </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10552.9px;left:3652.29px;text-rendering:optimizeLegibility;white-space:nowrap">fiscal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10552.9px;left:4112.4px;white-space:nowrap">stimulus </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10802.9px;left:0px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10802.9px;left:190.11px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10802.9px;left:490.34px;white-space:nowrap">months </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10802.9px;left:1130.63px;white-space:nowrap">leading </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10802.9px;left:1761.15px;white-space:nowrap">up </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10802.9px;left:2011.38px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10802.9px;left:2211.5px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10802.9px;left:2511.74px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10802.9px;left:2911.82px;white-space:nowrap">presidential </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10802.9px;left:3882.39px;white-space:nowrap">election, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11052.9px;left:0px;letter-spacing:-1.08px;white-space:nowrap">HY </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11052.9px;left:296.81px;white-space:nowrap">performance </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11052.9px;left:1357.29px;white-space:nowrap">held </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11052.9px;left:1747.62px;text-rendering:optimizeLegibility;white-space:nowrap">firm. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11052.9px;left:2147.52px;white-space:nowrap">Following </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11052.9px;left:2957.87px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11052.9px;left:3258.11px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11052.9px;left:3658.18px;white-space:nowrap">presidential </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11302.9px;left:0px;white-space:nowrap">election, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11302.9px;left:720.44px;white-space:nowrap">strong </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11302.9px;left:1270.72px;letter-spacing:-1.08px;white-space:nowrap">HY </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11302.9px;left:1567.53px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11302.9px;left:2167.65px;white-space:nowrap">performance </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11302.9px;left:3228.13px;white-space:nowrap">persisted, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11302.9px;left:4058.53px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11552.9px;left:0px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11552.9px;left:600.12px;white-space:nowrap">sentiment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11552.9px;left:1430.51px;white-space:nowrap">remained </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11552.9px;left:2230.93px;white-space:nowrap">generally </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11552.9px;left:3011.4px;white-space:nowrap">positive </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11552.9px;left:3671.72px;white-space:nowrap">until </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11552.9px;left:4051.93px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11552.9px;left:4352.17px;white-space:nowrap">end </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11802.9px;left:0px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11802.9px;left:200.13px;white-space:nowrap">2020. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11802.9px;left:690.64px;white-space:nowrap">As </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11802.9px;left:950.71px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11802.9px;left:1661.13px;white-space:nowrap">markets </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11802.9px;left:2351.25px;white-space:nowrap">settled </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11802.9px;left:2931.59px;white-space:nowrap">into </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11802.9px;left:3271.82px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11802.9px;left:3572.05px;white-space:nowrap">new </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11802.9px;left:3952.27px;letter-spacing:-0.99px;white-space:nowrap">year, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11802.9px;left:4392.51px;white-space:nowrap">amid </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12052.9px;left:0px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12052.9px;left:150.12px;white-space:nowrap">stronger-than-expected </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12052.9px;left:2061.21px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12052.9px;left:2461.29px;white-space:nowrap">economic </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12052.9px;left:3281.66px;white-space:nowrap">recovery </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12052.9px;left:4021.88px;white-space:nowrap">along </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12302.9px;left:0px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12302.9px;left:370.11px;white-space:nowrap">surging </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12302.9px;left:1010.48px;white-space:nowrap">longer-term </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12302.9px;left:1980.79px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12302.9px;left:2377.62px;letter-spacing:-0.74px;white-space:nowrap">Treasury </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12302.9px;left:3131.1px;white-space:nowrap">yields, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12302.9px;left:3691.32px;white-space:nowrap">concerns </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12552.9px;left:0px;white-space:nowrap">surrounding </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12552.9px;left:1000.63px;white-space:nowrap">potential </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12552.9px;left:1731.18px;text-rendering:optimizeLegibility;white-space:nowrap">inflationary </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12552.9px;left:2651.66px;white-space:nowrap">pressures </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12552.9px;left:3491.98px;white-space:nowrap">have </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12552.9px;left:3932.31px;white-space:nowrap">resurfaced. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12802.9px;left:0px;white-space:nowrap">Investors </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12802.9px;left:780.29px;white-space:nowrap">have </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12802.9px;left:1220.63px;white-space:nowrap">consequently </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12802.9px;left:2331.39px;white-space:nowrap">begun </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12802.9px;left:2881.93px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12802.9px;left:3082.06px;white-space:nowrap">assess </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12802.9px;left:3692.29px;white-space:nowrap">more </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12802.9px;left:4152.39px;white-space:nowrap">closely </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:5520.23px;white-space:nowrap">implications </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:6510.59px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:6710.71px;white-space:nowrap">unprecedented </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:7961.75px;text-rendering:optimizeLegibility;white-space:nowrap">fiscal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:8421.86px;white-space:nowrap">stimulus, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:9182.02px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:5220px;white-space:nowrap">accommodative </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:6530.54px;white-space:nowrap">Fed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:6890.71px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:7241.04px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:7491.27px;white-space:nowrap">economy </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:8271.65px;white-space:nowrap">poised </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:8852.08px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:9052.21px;white-space:nowrap">rebound </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:5220px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:5460.12px;white-space:nowrap">vaccination </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:6410.65px;white-space:nowrap">programs </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:7220.92px;white-space:nowrap">pave </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:7661.25px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:7961.48px;white-space:nowrap">way </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:8331.59px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:8591.66px;white-space:nowrap">reopening </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:5220px;white-space:nowrap">businesses.</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:5039.41px;left:5220px;letter-spacing:-0.67px;white-space:nowrap">High-Yield </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:5039.41px;left:6257.01px;white-space:nowrap">Corporate </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:5039.41px;left:7268.24px;white-space:nowrap">Bonds</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5306.34px;left:5220px;white-space:nowrap">For </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5306.34px;left:5540.01px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5306.34px;left:5840.24px;white-space:nowrap">six-month </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5306.34px;left:6670.46px;white-space:nowrap">period </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5306.34px;left:7220.83px;white-space:nowrap">under </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5306.34px;left:7731.21px;letter-spacing:-1.24px;white-space:nowrap">review, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5306.34px;left:8341.44px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5306.34px;left:8641.67px;white-space:nowrap">CS </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5306.34px;left:8941.73px;white-space:nowrap">High </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5306.34px;left:9358.68px;letter-spacing:-1.11px;white-space:nowrap">Yield </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5556.34px;left:5220px;white-space:nowrap">Index </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5556.34px;left:5710.34px;white-space:nowrap">posted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5556.34px;left:6300.79px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5556.34px;left:6450.91px;white-space:nowrap">+6.31% </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5556.34px;left:7116.42px;white-space:nowrap">cumulative </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5556.34px;left:8026.79px;white-space:nowrap">total </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5556.34px;left:8417.02px;white-space:nowrap">return </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5556.34px;left:8937.25px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5556.34px;left:9177.36px;white-space:nowrap">lower-</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5806.34px;left:5220px;white-space:nowrap">rated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5806.34px;left:5680.28px;letter-spacing:-1.08px;white-space:nowrap">HY </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5806.34px;left:5977.09px;white-space:nowrap">bonds </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5806.34px;left:6517.53px;white-space:nowrap">generally </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5806.34px;left:7298px;white-space:nowrap">outperformed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5806.34px;left:8418.6px;white-space:nowrap">their </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5806.34px;left:8818.77px;white-space:nowrap">higher-rated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6056.34px;left:5220px;white-space:nowrap">counterparts.</div><div style="font-family:Arial, sans-serif;font-size:104.9px;position:absolute;top:6059.95px;left:6270.56px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6056.34px;left:6378.93px;white-space:nowrap">From </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6056.34px;left:6848.88px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6056.34px;left:6999px;white-space:nowrap">sector/industry </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6056.34px;left:8219.45px;white-space:nowrap">standpoint, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6056.34px;left:9150.12px;white-space:nowrap">issuers </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6306.34px;left:5220px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6306.34px;left:5410.11px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6306.34px;left:5710.34px;letter-spacing:-1.67px;white-space:nowrap">energy, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6306.34px;left:6347.37px;white-space:nowrap">aerospace </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6306.34px;left:7237.97px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6306.34px;left:7588.3px;white-space:nowrap">retail </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6306.34px;left:8028.46px;white-space:nowrap">industries </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6306.34px;left:8848.83px;white-space:nowrap">were </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6306.34px;left:9288.98px;white-space:nowrap">notable </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6556.34px;left:5220px;white-space:nowrap">outperformers. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6986.34px;left:5220px;white-space:nowrap">From </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6986.34px;left:5689.95px;white-space:nowrap">September </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6986.34px;left:6620.45px;white-space:nowrap">2020 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6986.34px;left:7070.89px;white-space:nowrap">through </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6986.34px;left:7731.39px;white-space:nowrap">period-end, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6986.34px;left:8692.03px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6986.34px;left:8992.27px;white-space:nowrap">technical </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7236.34px;left:5220px;white-space:nowrap">environment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7236.34px;left:6260.54px;white-space:nowrap">remained </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7236.34px;left:7060.96px;white-space:nowrap">generally </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7236.34px;left:7841.43px;white-space:nowrap">supportive </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7236.34px;left:8721.91px;white-space:nowrap">amid </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7236.34px;left:9162.07px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7486.34px;left:5220px;letter-spacing:-0.54px;white-space:nowrap">Fed&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7486.34px;left:5706.91px;white-space:nowrap">unprecedented, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7486.34px;left:7007.96px;white-space:nowrap">albeit </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7486.34px;left:7488.28px;white-space:nowrap">limited, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7486.34px;left:8108.44px;white-space:nowrap">involvement </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7486.34px;left:9118.92px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7486.34px;left:9309.02px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7736.34px;left:5220px;letter-spacing:-1.08px;white-space:nowrap">HY </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7736.34px;left:5516.81px;white-space:nowrap">market. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7736.34px;left:6166.93px;white-space:nowrap">Demand </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7736.34px;left:6897.3px;white-space:nowrap">has </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7736.34px;left:7237.53px;white-space:nowrap">been </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7736.34px;left:7687.97px;white-space:nowrap">buoyed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7736.34px;left:8328.52px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7736.34px;left:8568.63px;white-space:nowrap">many </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7736.34px;left:9058.8px;letter-spacing:-0.61px;white-space:nowrap">investors&#8217; </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7986.34px;left:5220px;white-space:nowrap">continuing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7986.34px;left:6090.64px;white-space:nowrap">reach </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7986.34px;left:6590.92px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7986.34px;left:6850.99px;white-space:nowrap">yield, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7986.34px;left:7321.2px;white-space:nowrap">which </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7986.34px;left:7831.41px;white-space:nowrap">has </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7986.34px;left:8171.63px;white-space:nowrap">helped </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7986.34px;left:8762.17px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7986.34px;left:8962.29px;white-space:nowrap">maintain </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8236.34px;left:5220px;white-space:nowrap">sizable </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8236.34px;left:5830.31px;text-rendering:optimizeLegibility;white-space:nowrap">inflows </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8236.34px;left:6430.52px;white-space:nowrap">into </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8236.34px;left:6770.74px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8236.34px;left:7070.98px;letter-spacing:-1.08px;white-space:nowrap">HY </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8236.34px;left:7367.78px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8236.34px;left:7967.9px;white-space:nowrap">through </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8236.34px;left:8628.4px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8236.34px;left:8928.63px;white-space:nowrap">end </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8236.34px;left:9278.96px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8236.34px;left:9479.09px;white-space:nowrap">2020. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8486.34px;left:5220px;white-space:nowrap">Beginning </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8486.34px;left:6070.69px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8486.34px;left:6260.8px;white-space:nowrap">2021, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8486.34px;left:6761.25px;letter-spacing:-1.1px;white-space:nowrap">however, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8486.34px;left:7531.7px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8486.34px;left:7831.93px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8486.34px;left:8432.05px;white-space:nowrap">saw </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8486.34px;left:8802.16px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8486.34px;left:8952.28px;white-space:nowrap">reversal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8736.34px;left:5220px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8736.34px;left:5410.11px;white-space:nowrap">retail </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8736.34px;left:5850.26px;white-space:nowrap">fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8736.34px;left:6250.61px;text-rendering:optimizeLegibility;white-space:nowrap">inflows </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8736.34px;left:6850.81px;white-space:nowrap">amid </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8736.34px;left:7290.97px;white-space:nowrap">increasing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8736.34px;left:8161.44px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8736.34px;left:8558.26px;letter-spacing:-0.74px;white-space:nowrap">Treasury </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8736.34px;left:9311.75px;white-space:nowrap">yield </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8986.34px;left:5220px;letter-spacing:-1.11px;white-space:nowrap">volatility. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8986.34px;left:5946.86px;letter-spacing:-1.08px;white-space:nowrap">HY </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8986.34px;left:6243.66px;white-space:nowrap">supply </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8986.34px;left:6813.98px;white-space:nowrap">had </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8986.34px;left:7164.32px;white-space:nowrap">remained </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8986.34px;left:7964.74px;white-space:nowrap">generally </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8986.34px;left:8745.21px;white-space:nowrap">robust </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8986.34px;left:9295.49px;white-space:nowrap">during </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9236.34px;left:5220px;white-space:nowrap">most </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9236.34px;left:5660.07px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9236.34px;left:5860.2px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9236.34px;left:6160.43px;white-space:nowrap">six-month </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9236.34px;left:6990.64px;white-space:nowrap">performance </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9236.34px;left:8051.13px;white-space:nowrap">period </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9236.34px;left:8601.5px;white-space:nowrap">under </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9236.34px;left:9111.88px;white-space:nowrap">review </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9236.34px;left:9682.03px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9486.34px;left:5220px;white-space:nowrap">many </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9486.34px;left:5710.17px;white-space:nowrap">issuers </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9486.34px;left:6330.32px;white-space:nowrap">continued </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9486.34px;left:7160.98px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9486.34px;left:7361.1px;white-space:nowrap">take </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9486.34px;left:7751.34px;white-space:nowrap">advantage </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9486.34px;left:8642.11px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9486.34px;left:8842.24px;white-space:nowrap">historically </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9736.34px;left:5220px;white-space:nowrap">low </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9736.34px;left:5540.1px;white-space:nowrap">yields </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9736.34px;left:6050.3px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9736.34px;left:6400.55px;white-space:nowrap">persisted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9736.34px;left:7180.93px;white-space:nowrap">until </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9736.34px;left:7561.14px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9736.34px;left:7861.38px;white-space:nowrap">beginning </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9736.34px;left:8692.12px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9736.34px;left:8892.25px;white-space:nowrap">2021. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9736.34px;left:9392.7px;white-space:nowrap">In </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9986.34px;left:5220px;white-space:nowrap">general, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9986.34px;left:5920.49px;white-space:nowrap">our </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9986.34px;left:6230.65px;white-space:nowrap">preference </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9986.34px;left:7141.2px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9986.34px;left:7321.2px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9986.34px;left:7521.33px;white-space:nowrap">seek </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9986.34px;left:7951.55px;white-space:nowrap">out </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9986.34px;left:8251.79px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9986.34px;left:8552.02px;white-space:nowrap">best </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9986.34px;left:8942.26px;white-space:nowrap">individual </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10236.34px;left:5220px;white-space:nowrap">credit </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10236.34px;left:5710.17px;white-space:nowrap">opportunities, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10236.34px;left:6840.88px;white-space:nowrap">without </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10236.34px;left:7461.21px;text-rendering:optimizeLegibility;white-space:nowrap">specific </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10236.34px;left:8111.43px;white-space:nowrap">targeting </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10236.34px;left:8861.92px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10236.34px;left:9062.05px;white-space:nowrap">particular </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10486.34px;left:5220px;white-space:nowrap">industries </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10486.34px;left:6040.37px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10486.34px;left:6250.43px;white-space:nowrap">ratings </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10486.34px;left:6840.7px;white-space:nowrap">buckets. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10486.34px;left:7561.05px;letter-spacing:-1.08px;white-space:nowrap">We </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10486.34px;left:7877.81px;white-space:nowrap">have </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10486.34px;left:8318.14px;white-space:nowrap">continued </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10486.34px;left:9148.8px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10486.34px;left:9348.93px;white-space:nowrap">explore </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10736.34px;left:5220px;white-space:nowrap">targeted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10736.34px;left:5930.51px;white-space:nowrap">investments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10736.34px;left:6940.9px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10736.34px;left:7131.01px;white-space:nowrap">what </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10736.34px;left:7561.23px;white-space:nowrap">we </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10736.34px;left:7841.34px;white-space:nowrap">consider </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10736.34px;left:8571.71px;text-rendering:optimizeLegibility;white-space:nowrap">financially </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10736.34px;left:9412.12px;white-space:nowrap">healthy </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10986.34px;left:5220px;white-space:nowrap">cyclical </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10986.34px;left:5849.82px;white-space:nowrap">companies, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10986.34px;left:6820.05px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10986.34px;left:7059.9px;white-space:nowrap">well </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10986.34px;left:7419.73px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10986.34px;left:7659.58px;white-space:nowrap">issuers </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10986.34px;left:8279.47px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10986.34px;left:8629.45px;white-space:nowrap">have </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10986.34px;left:9069.52px;white-space:nowrap">been </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10986.34px;left:9519.7px;white-space:nowrap">heavily </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11236.34px;left:5220px;white-space:nowrap">impacted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11236.34px;left:6000.38px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11236.34px;left:6240.5px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11236.34px;left:6540.73px;white-space:nowrap">COVID-19 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11236.34px;left:7420.96px;white-space:nowrap">pandemic </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11236.34px;left:8251.44px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11236.34px;left:8601.77px;white-space:nowrap">have </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11236.34px;left:9042.1px;white-space:nowrap">much </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11236.34px;left:9532.27px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11236.34px;left:9732.39px;white-space:nowrap">gain </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11486.34px;left:5220px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11486.34px;left:5630.01px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11486.34px;left:5880.23px;white-space:nowrap">eventual </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11486.34px;left:6610.78px;white-space:nowrap">economic </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11486.34px;left:7431.15px;letter-spacing:-0.95px;white-space:nowrap">recovery. </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:11899.41px;left:5220px;white-space:nowrap">Utility </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:11899.41px;left:5831.13px;white-space:nowrap">Stocks</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12166.34px;left:5220px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12166.34px;left:5580.18px;white-space:nowrap">utilities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12166.34px;left:6180.38px;letter-spacing:0.38px;white-space:nowrap">sector&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12166.34px;left:6853.97px;white-space:nowrap">+0.22% </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12166.34px;left:7519.48px;white-space:nowrap">cumulative </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12166.34px;left:8429.85px;white-space:nowrap">total </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12166.34px;left:8820.09px;white-space:nowrap">return, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12166.34px;left:9390.32px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12416.34px;left:5220px;white-space:nowrap">measured </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12416.34px;left:6070.43px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12416.34px;left:6310.55px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12416.34px;left:6610.78px;letter-spacing:-0.81px;white-space:nowrap">S&amp;P </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12416.34px;left:7017.71px;white-space:nowrap">500 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12416.34px;left:7368.05px;white-space:nowrap">Utilities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12416.34px;left:7998.13px;white-space:nowrap">Index, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12416.34px;left:8538.49px;white-space:nowrap">underperformed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12666.34px;left:5220px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12666.34px;left:5520.23px;white-space:nowrap">broader </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12666.34px;left:6190.66px;letter-spacing:-0.36px;white-space:nowrap">market&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12666.34px;left:6917.52px;white-space:nowrap">+9.74% </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12666.34px;left:7583.03px;white-space:nowrap">cumulative </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12666.34px;left:8493.4px;white-space:nowrap">total </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12666.34px;left:8883.63px;white-space:nowrap">return, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12666.34px;left:9453.87px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:3360.1px;left:0px;white-space:nowrap">Portfolio </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:3360.1px;left:833.75px;white-space:nowrap">Composition</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3557.99px;left:0px;white-space:nowrap">2/28/21</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3846.47px;left:3927.5px;white-space:nowrap">% </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3846.47px;left:4114.22px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3846.47px;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:4038.47px;left:3684.06px;white-space:nowrap">Investments*</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4380.41px;left:0px;white-space:nowrap">Corporate </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4380.41px;left:755.94px;white-space:nowrap">Bonds</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4380.41px;left:4226.33px;white-space:nowrap">65.6%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4640.89px;left:0px;white-space:nowrap">Common </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4640.89px;left:693.52px;white-space:nowrap">Stocks</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4640.89px;left:4226.33px;white-space:nowrap">29.3%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4901.38px;left:0px;white-space:nowrap">Asset-Backed </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4901.38px;left:1031.56px;white-space:nowrap">Securities</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4901.38px;left:4315.31px;white-space:nowrap">2.7%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5161.86px;left:0px;white-space:nowrap">Marketplace </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5161.86px;left:915.94px;white-space:nowrap">Loans</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5161.86px;left:4315.31px;white-space:nowrap">1.2%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5422.35px;left:0px;white-space:nowrap">Other**</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5422.35px;left:4315.31px;white-space:nowrap">0.3%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5682.83px;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:5682.83px;left:835.7px;white-space:nowrap">Investments</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5682.83px;left:4315.31px;white-space:nowrap">0.9%</div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:1158.5px;left:5220px;letter-spacing:-3.53px;white-space:nowrap">Top </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:1158.5px;left:5606.87px;white-space:nowrap">10 </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:1158.5px;left:5870.99px;white-space:nowrap">Holdings</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1356.39px;left:5220px;white-space:nowrap">2/28/21</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1836.87px;left:5220px;white-space:nowrap">Issuer</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1644.87px;left:9363.5px;white-space:nowrap">% </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1644.87px;left:9550.22px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1644.87px;left:9745.69px;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:1836.87px;left:9294.91px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1836.87px;left:9591.23px;white-space:nowrap">Assets</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:2081.97px;left:5220px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:2081.97px;left:10104.88px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2159.92px;left:5220px;white-space:nowrap">NextEra </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2159.92px;left:5842.42px;white-space:nowrap">Energy </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2159.92px;left:6393.83px;white-space:nowrap">Inc.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2159.92px;left:9751.31px;white-space:nowrap">4.2%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2431.4px;left:5220px;white-space:nowrap">Sempra </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2431.4px;left:5824.69px;white-space:nowrap">Energy</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2431.4px;left:9751.31px;white-space:nowrap">2.5%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2702.88px;left:5220px;white-space:nowrap">CMS </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2702.88px;left:5620px;white-space:nowrap">Energy </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2702.88px;left:6171.41px;white-space:nowrap">Corp.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2702.88px;left:9751.31px;white-space:nowrap">2.3%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2974.37px;left:5220px;white-space:nowrap">American </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2974.37px;left:5940.23px;white-space:nowrap">Electric </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2974.37px;left:6509.22px;white-space:nowrap">Power </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2974.37px;left:7007.19px;white-space:nowrap">Co. </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2974.37px;left:7300.63px;white-space:nowrap">Inc.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2974.37px;left:9751.31px;white-space:nowrap">2.3%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3245.85px;left:5220px;white-space:nowrap">Dominion </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3245.85px;left:5940.31px;white-space:nowrap">Energy </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3245.85px;left:6491.72px;white-space:nowrap">Inc.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3245.85px;left:9751.31px;white-space:nowrap">2.2%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3517.34px;left:5220px;white-space:nowrap">Cheniere </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3517.34px;left:5913.75px;white-space:nowrap">Energy </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3517.34px;left:6465.16px;white-space:nowrap">Partners </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3517.34px;left:7114.3px;letter-spacing:-1.45px;white-space:nowrap">LP</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3517.34px;left:9751.31px;white-space:nowrap">2.1%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3788.82px;left:5220px;white-space:nowrap">Evergy</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3788.82px;left:5762.42px;white-space:nowrap">Inc.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3788.82px;left:9751.31px;white-space:nowrap">2.0%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4060.31px;left:5220px;white-space:nowrap">Duke </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4060.31px;left:5637.97px;white-space:nowrap">Energy </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4060.31px;left:6189.38px;white-space:nowrap">Corp.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4060.31px;left:9751.31px;white-space:nowrap">1.9%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4331.79px;left:5220px;white-space:nowrap">Alliant </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4331.79px;left:5700.23px;white-space:nowrap">Energy </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4331.79px;left:6251.64px;white-space:nowrap">Corp.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4331.79px;left:9751.31px;white-space:nowrap">1.8%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4603.27px;left:5220px;white-space:nowrap">DTE </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4603.27px;left:5584.45px;white-space:nowrap">Energy </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4603.27px;left:6135.86px;white-space:nowrap">Co.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4603.27px;left:9751.31px;white-space:nowrap">1.7%</div></div>
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			<div style="width:10080px;height:12960px;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">measured </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:850.43px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:1090.55px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:1390.78px;letter-spacing:-0.81px;white-space:nowrap">S&amp;P </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:1797.71px;white-space:nowrap">500 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:2148.05px;white-space:nowrap">Index, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:2688.4px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:2948.47px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:3248.7px;white-space:nowrap">six </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:3518.7px;white-space:nowrap">months </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:4158.98px;white-space:nowrap">under </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:0px;letter-spacing:-1.42px;white-space:nowrap">review.</div><div style="font-family:Arial, sans-serif;font-size:104.9px;position:absolute;top:232.25px;left:560.21px;white-space:nowrap">2</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:668.59px;white-space:nowrap">Utilities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:1298.67px;white-space:nowrap">were </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:1738.83px;white-space:nowrap">negatively </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:2599.37px;white-space:nowrap">impacted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:3379.75px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:3619.87px;white-space:nowrap">unfavorable </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:0px;white-space:nowrap">secular </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:630.26px;white-space:nowrap">rotation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:1280.65px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:1630.99px;white-space:nowrap">catastrophic </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:2651.48px;white-space:nowrap">winter </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:3181.64px;white-space:nowrap">weather </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:3872.02px;white-space:nowrap">events. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:0px;letter-spacing:-0.89px;white-space:nowrap">Fundamentally, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:1267.29px;white-space:nowrap">most </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:1707.36px;white-space:nowrap">utilities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:2307.57px;white-space:nowrap">were </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:2747.72px;white-space:nowrap">able </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:3138.05px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:3338.17px;white-space:nowrap">successfully </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:0px;white-space:nowrap">mitigate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:680.27px;white-space:nowrap">COVID-19 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:1560.5px;white-space:nowrap">headwinds </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:2471.13px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:2661.24px;white-space:nowrap">2020, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:3161.69px;white-space:nowrap">using </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:3642.01px;white-space:nowrap">cost </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:4022.14px;white-space:nowrap">levers </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:0px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:200.13px;white-space:nowrap">achieve </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:870.56px;white-space:nowrap">earnings </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:1611.04px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:1961.28px;white-space:nowrap">were </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:2401.44px;white-space:nowrap">better </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:2911.73px;white-space:nowrap">than </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:3312.07px;white-space:nowrap">expected. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:4142.64px;white-space:nowrap">Some </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:0px;white-space:nowrap">utilities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:600.21px;white-space:nowrap">expect </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:1180.55px;white-space:nowrap">COVID-19 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:2060.77px;white-space:nowrap">impacts </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:2730.94px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:2931.06px;white-space:nowrap">linger </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:3421.32px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:3611.43px;white-space:nowrap">2021, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:4111.88px;white-space:nowrap">but </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:4412.11px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:0px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:150.12px;white-space:nowrap">group, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:710.51px;white-space:nowrap">utilities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:1310.71px;white-space:nowrap">provided </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:2051.19px;white-space:nowrap">strong </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:2601.47px;white-space:nowrap">forward-looking </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:3882.04px;white-space:nowrap">corporate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:0px;white-space:nowrap">guidance. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:830.65px;white-space:nowrap">Still, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:1220.71px;white-space:nowrap">utilities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:1820.92px;white-space:nowrap">underperformed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:3151.67px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:3451.9px;white-space:nowrap">broader </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:4122.33px;white-space:nowrap">market, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:0px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:240.12px;white-space:nowrap">investors </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:1010.39px;white-space:nowrap">seek </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:1440.62px;white-space:nowrap">sectors </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:2070.79px;white-space:nowrap">outside </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:2701.23px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:2901.36px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:3201.59px;white-space:nowrap">group </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:3711.97px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:4062.22px;text-rendering:optimizeLegibility;white-space:nowrap">benefit </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2478.64px;left:0px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2478.64px;left:410.01px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2478.64px;left:710.24px;white-space:nowrap">economic </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2478.64px;left:1530.62px;white-space:nowrap">reopening. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2478.64px;left:2431.32px;white-space:nowrap">Xcel </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2478.64px;left:2831.48px;letter-spacing:-1.67px;white-space:nowrap">Energy, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2478.64px;left:3488.47px;white-space:nowrap">WEC </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2478.64px;left:3958.42px;white-space:nowrap">Energy </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2728.64px;left:0px;white-space:nowrap">Group </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2728.64px;left:550.28px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2728.64px;left:900.62px;white-space:nowrap">Dominion </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2728.64px;left:1710.97px;white-space:nowrap">Energy </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2728.64px;left:2331.3px;white-space:nowrap">were </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2728.64px;left:2771.46px;white-space:nowrap">relative </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2728.64px;left:3401.72px;white-space:nowrap">underperformers, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2978.64px;left:0px;white-space:nowrap">after </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2978.64px;left:410.19px;white-space:nowrap">giving </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2978.64px;left:930.5px;white-space:nowrap">up </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2978.64px;left:1180.72px;white-space:nowrap">earlier </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2978.64px;left:1730.92px;white-space:nowrap">gains. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2978.64px;left:2261.25px;white-space:nowrap">NextEra </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2978.64px;left:2961.47px;white-space:nowrap">Energy </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2978.64px;left:3581.81px;white-space:nowrap">continued </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2978.64px;left:4412.46px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3228.64px;left:0px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3228.64px;left:250.22px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3228.64px;left:550.46px;white-space:nowrap">bellwether </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3228.64px;left:1420.93px;letter-spacing:-0.9px;white-space:nowrap">performer, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3228.64px;left:2291.22px;white-space:nowrap">propping </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3228.64px;left:3041.81px;white-space:nowrap">up </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3228.64px;left:3292.03px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3228.64px;left:3592.27px;white-space:nowrap">utility </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3228.64px;left:4052.37px;letter-spacing:-1.24px;white-space:nowrap">sector, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3478.64px;left:0px;white-space:nowrap">while </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3478.64px;left:460.2px;white-space:nowrap">CMS </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3478.64px;left:910.2px;white-space:nowrap">Energy </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3478.64px;left:1530.53px;white-space:nowrap">underperformed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3478.64px;left:2861.28px;white-space:nowrap">due </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3478.64px;left:3211.61px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3478.64px;left:3411.74px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3478.64px;left:3711.97px;white-space:nowrap">loss </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3478.64px;left:4082.08px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3478.64px;left:4282.21px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3728.64px;left:0px;white-space:nowrap">long-tenured </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3728.64px;left:1060.75px;white-space:nowrap">chief </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3728.64px;left:1490.98px;white-space:nowrap">executive </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3728.64px;left:2301.42px;text-rendering:optimizeLegibility;letter-spacing:-1.1px;white-space:nowrap">officer. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3728.64px;left:2871.74px;letter-spacing:-4.97px;white-space:nowrap">A </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3728.64px;left:3031.88px;white-space:nowrap">few </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3728.64px;left:3361.99px;white-space:nowrap">utilities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3728.64px;left:3962.2px;white-space:nowrap">divested </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3978.64px;left:0px;white-space:nowrap">non-core </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3978.64px;left:760.43px;white-space:nowrap">assets, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3978.64px;left:1380.67px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3978.64px;left:1750.78px;white-space:nowrap">DTE </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3978.64px;left:2160.79px;white-space:nowrap">Energy </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3978.64px;left:2781.12px;white-space:nowrap">divesting </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3978.64px;left:3541.55px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3978.64px;left:3771.56px;white-space:nowrap">midstream </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4228.64px;left:0px;white-space:nowrap">segment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4228.64px;left:740.39px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4228.64px;left:940.52px;white-space:nowrap">unlock </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4228.64px;left:1510.84px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4228.64px;left:1811.07px;white-space:nowrap">full </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4228.64px;left:2091.18px;white-space:nowrap">potential </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4228.64px;left:2821.73px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4228.64px;left:3021.86px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4228.64px;left:3251.87px;white-space:nowrap">regulated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4228.64px;left:4052.46px;letter-spacing:-1.48px;white-space:nowrap">utility. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4478.64px;left:0px;white-space:nowrap">Additional </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4478.64px;left:840.59px;white-space:nowrap">relative </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4478.64px;left:1470.85px;white-space:nowrap">underperformance </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4478.64px;left:2991.71px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4478.64px;left:3401.72px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4478.64px;left:3701.95px;white-space:nowrap">group </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4728.64px;left:0px;white-space:nowrap">stemmed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4728.64px;left:790.22px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4728.64px;left:1200.23px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4728.64px;left:1500.47px;white-space:nowrap">February </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4728.64px;left:2270.74px;white-space:nowrap">2021 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4728.64px;left:2721.18px;white-space:nowrap">winter </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4728.64px;left:3251.34px;white-space:nowrap">storms, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4728.64px;left:3891.36px;white-space:nowrap">which </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4978.64px;left:0px;white-space:nowrap">heavily </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4978.64px;left:610.31px;white-space:nowrap">impacted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4978.64px;left:1390.69px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4978.64px;left:1690.93px;white-space:nowrap">southern </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4978.64px;left:2441.43px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4978.64px;left:2841.5px;white-space:nowrap">Energy </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4978.64px;left:3461.84px;white-space:nowrap">infrastructure </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5228.64px;left:0px;white-space:nowrap">failed, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5228.64px;left:530.33px;white-space:nowrap">leading </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5228.64px;left:1160.86px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5228.64px;left:1360.99px;white-space:nowrap">increased </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5228.64px;left:2191.46px;white-space:nowrap">costs </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5228.64px;left:2661.59px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5228.64px;left:2921.66px;white-space:nowrap">utilities. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5228.64px;left:3571.88px;white-space:nowrap">Evergy </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5228.64px;left:4182.1px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5478.64px;left:0px;white-space:nowrap">Sempra </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5478.64px;left:680.27px;white-space:nowrap">Energy </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5478.64px;left:1300.61px;white-space:nowrap">have </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5478.64px;left:1740.94px;white-space:nowrap">exposure </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5478.64px;left:2531.43px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5478.64px;left:2728.3px;letter-spacing:-2.85px;white-space:nowrap">Texas, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5478.64px;left:3298.54px;white-space:nowrap">but </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5478.64px;left:3598.77px;white-space:nowrap">were </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5478.64px;left:4038.93px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5728.64px;left:0px;white-space:nowrap">materially </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5728.64px;left:820.2px;white-space:nowrap">impacted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5728.64px;left:1600.58px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5728.64px;left:1840.69px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5728.64px;left:2140.93px;white-space:nowrap">weather </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5728.64px;left:2831.31px;white-space:nowrap">event. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5728.64px;left:3371.66px;letter-spacing:-1.08px;white-space:nowrap">We </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5728.64px;left:3688.42px;white-space:nowrap">believe </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5728.64px;left:4308.84px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5978.64px;left:0px;white-space:nowrap">sector </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5978.64px;left:540.18px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5978.64px;left:840.15px;white-space:nowrap">rebound, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5978.64px;left:1600.75px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5978.64px;left:1840.87px;white-space:nowrap">relative </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5978.64px;left:2471.13px;white-space:nowrap">valuations </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5978.64px;left:3331.67px;white-space:nowrap">appear </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5978.64px;left:3942.16px;white-space:nowrap">attractive </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6228.64px;left:0px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6228.64px;left:350.33px;white-space:nowrap">fundamentals </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6228.64px;left:1481.04px;white-space:nowrap">remain </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6228.64px;left:2081.25px;white-space:nowrap">intact. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6228.64px;left:2611.49px;white-space:nowrap">Furthermore, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6228.64px;left:3701.78px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6228.64px;left:4002.01px;white-space:nowrap">long-term </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6478.64px;left:0px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6478.64px;left:920.39px;white-space:nowrap">horizon </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6478.64px;left:1560.76px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6478.64px;left:1820.83px;white-space:nowrap">utilities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6478.64px;left:2421.04px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6478.64px;left:2601.04px;white-space:nowrap">robust, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6478.64px;left:3201.33px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6478.64px;left:3391.44px;white-space:nowrap">our </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6478.64px;left:3701.6px;letter-spacing:-1.66px;white-space:nowrap">view, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6478.64px;left:4151.78px;white-space:nowrap">driven </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6728.64px;left:0px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6728.64px;left:240.12px;white-space:nowrap">decarbonization </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6728.64px;left:1561.03px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6728.64px;left:2481.42px;white-space:nowrap">opportunities.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7158.64px;left:0px;white-space:nowrap">Thank </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7158.64px;left:550.28px;white-space:nowrap">you </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7158.64px;left:890.51px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7158.64px;left:1150.58px;white-space:nowrap">your </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7158.64px;left:1550.74px;white-space:nowrap">continued </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7158.64px;left:2381.4px;white-space:nowrap">participation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7158.64px;left:3401.98px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7158.64px;left:3592.09px;white-space:nowrap">Franklin </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7408.64px;left:0px;white-space:nowrap">Universal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7408.64px;left:796.99px;letter-spacing:-0.95px;white-space:nowrap">Trust. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7408.64px;left:1300.34px;letter-spacing:-1.08px;white-space:nowrap">We </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7408.64px;left:1617.1px;white-space:nowrap">look </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7408.64px;left:1997.31px;white-space:nowrap">forward </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7408.64px;left:2647.53px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7408.64px;left:2847.66px;white-space:nowrap">serving </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7408.64px;left:3477.92px;white-space:nowrap">your </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7408.64px;left:3878.09px;white-space:nowrap">future </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7658.64px;left:0px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7658.64px;left:920.39px;white-space:nowrap">needs.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:0px;letter-spacing:-1.34px;white-space:nowrap">Sincerely,</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8518.64px;left:0px;white-space:nowrap">Glenn </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8518.64px;left:530.33px;white-space:nowrap">I. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8518.64px;left:680.36px;letter-spacing:-0.83px;white-space:nowrap">Voyles, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8518.64px;left:1310.71px;letter-spacing:-6.62px;white-space:nowrap">CFA</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8768.64px;left:0px;white-space:nowrap">Jonathan </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8768.64px;left:790.66px;white-space:nowrap">G. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8768.64px;left:1030.69px;white-space:nowrap">Belk, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8768.64px;left:1480.87px;letter-spacing:-6.62px;white-space:nowrap">CFA</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9198.64px;left:0px;white-space:nowrap">Portfolio </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9198.64px;left:710.33px;white-space:nowrap">Management </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9198.64px;left:1807.73px;letter-spacing:-4.99px;white-space:nowrap">Team</div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:9718.64px;left:0px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:9718.64px;left:360.18px;white-space:nowrap">foregoing </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:9718.64px;left:1160.77px;white-space:nowrap">information </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:9718.64px;left:2101.2px;text-rendering:optimizeLegibility;white-space:nowrap">reflects </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:9718.64px;left:2731.38px;white-space:nowrap">our </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:9718.64px;left:3041.54px;white-space:nowrap">analysis, </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:9718.64px;left:3791.87px;white-space:nowrap">opinions </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:9968.64px;left:0px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:9968.64px;left:350.33px;white-space:nowrap">portfolio </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:9968.64px;left:1040.71px;white-space:nowrap">holdings </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:9968.64px;left:1761.24px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:9968.64px;left:2001.36px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:9968.64px;left:2201.48px;white-space:nowrap">February </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:9968.64px;left:2971.76px;white-space:nowrap">28, </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:9968.64px;left:3271.99px;white-space:nowrap">2021, </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:9968.64px;left:3772.44px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:9968.64px;left:4072.68px;white-space:nowrap">end </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:10218.64px;left:0px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:10218.64px;left:200.13px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:10218.64px;left:500.36px;white-space:nowrap">reporting </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:10218.64px;left:1260.79px;white-space:nowrap">period. </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:10218.64px;left:1861.17px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:10218.64px;left:2221.35px;white-space:nowrap">way </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:10218.64px;left:2591.46px;white-space:nowrap">we </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:10218.64px;left:2871.56px;white-space:nowrap">implement </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:10218.64px;left:3751.88px;white-space:nowrap">our </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:10218.64px;left:4062.04px;white-space:nowrap">main </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:10468.64px;left:0px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:10468.64px;left:920.39px;white-space:nowrap">strategies </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:10468.64px;left:1750.78px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:10468.64px;left:2101.11px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:10468.64px;left:2401.35px;white-space:nowrap">resulting </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:10468.64px;left:3131.72px;white-space:nowrap">portfolio </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:10468.64px;left:3822.1px;white-space:nowrap">holdings </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:10718.64px;left:0px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:10718.64px;left:390.06px;white-space:nowrap">change </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:10718.64px;left:1030.61px;white-space:nowrap">depending </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:10718.64px;left:1921.46px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:10718.64px;left:2171.69px;white-space:nowrap">factors </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:10718.64px;left:2761.88px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:10718.64px;left:3192.1px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:10718.64px;left:3432.22px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:10718.64px;left:4032.33px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:10968.64px;left:0px;white-space:nowrap">economic </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:10968.64px;left:820.37px;white-space:nowrap">conditions. </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:10968.64px;left:1730.92px;white-space:nowrap">These </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:10968.64px;left:2281.2px;white-space:nowrap">opinions </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:10968.64px;left:3001.73px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:10968.64px;left:3391.79px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:10968.64px;left:3692.02px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:10968.64px;left:3942.25px;white-space:nowrap">relied </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:10968.64px;left:4432.5px;white-space:nowrap">upon </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:11218.64px;left:0px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:11218.64px;left:240.12px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:11218.64px;left:1160.51px;white-space:nowrap">advice </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:11218.64px;left:1730.83px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:11218.64px;left:1940.89px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:11218.64px;left:2191.11px;white-space:nowrap">offer </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:11218.64px;left:2601.3px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:11218.64px;left:2861.37px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:11218.64px;left:3011.48px;white-space:nowrap">particular </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:11218.64px;left:3801.8px;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:11218.64px;left:4508.61px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:11468.64px;left:0px;white-space:nowrap">information </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:11468.64px;left:940.43px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:11468.64px;left:1120.43px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:11468.64px;left:1420.66px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:11468.64px;left:1570.78px;white-space:nowrap">complete </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:11468.64px;left:2351.16px;white-space:nowrap">analysis </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:11468.64px;left:3051.47px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:11468.64px;left:3251.6px;white-space:nowrap">every </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:11468.64px;left:3741.77px;white-space:nowrap">aspect </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:11468.64px;left:4322.11px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:11468.64px;left:4522.24px;white-space:nowrap">any </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:11718.64px;left:0px;white-space:nowrap">market, </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:11718.64px;left:650.13px;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:11718.64px;left:1327.06px;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:11718.64px;left:2043.98px;white-space:nowrap">security </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:11718.64px;left:2714.15px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:11718.64px;left:2924.21px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:11718.64px;left:3224.44px;white-space:nowrap">Fund. </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:11718.64px;left:3734.74px;white-space:nowrap">Statements </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:11718.64px;left:4695.21px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:11968.64px;left:0px;white-space:nowrap">fact </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:11968.64px;left:340.14px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:11968.64px;left:650.3px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:11968.64px;left:1060.31px;white-space:nowrap">sources </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:11968.64px;left:1740.59px;white-space:nowrap">considered </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:11968.64px;left:2671.17px;white-space:nowrap">reliable, </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:11968.64px;left:3351.53px;white-space:nowrap">but </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:11968.64px;left:3651.77px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:11968.64px;left:3952px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:-21.36px;left:5220px;white-space:nowrap">manager </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:-21.36px;left:5980.43px;white-space:nowrap">makes </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:-21.36px;left:6560.6px;white-space:nowrap">no </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:-21.36px;left:6810.82px;white-space:nowrap">representation </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:-21.36px;left:8011.58px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:-21.36px;left:8221.64px;white-space:nowrap">warranty </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:-21.36px;left:8961.86px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:-21.36px;left:9201.97px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:-21.36px;left:9402.1px;white-space:nowrap">their </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:228.64px;left:5220px;white-space:nowrap">completeness </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:228.64px;left:6380.6px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:228.64px;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:228.64px;left:7390.9px;white-space:nowrap">Although </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:228.64px;left:8151.5px;white-space:nowrap">historical </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:228.64px;left:8911.76px;white-space:nowrap">performance </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:478.64px;left:5220px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:478.64px;left:5400px;white-space:nowrap">no </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:478.64px;left:5650.22px;white-space:nowrap">guarantee </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:478.64px;left:6510.94px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:478.64px;left:6711.06px;white-space:nowrap">future </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:478.64px;left:7221.36px;white-space:nowrap">results, </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:478.64px;left:7851.53px;white-space:nowrap">these </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:478.64px;left:8341.88px;white-space:nowrap">insights </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:478.64px;left:9002.2px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:478.64px;left:9392.26px;white-space:nowrap">help </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:478.64px;left:9782.58px;white-space:nowrap">you </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:728.64px;left:5220px;white-space:nowrap">understand </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:728.64px;left:6170.71px;white-space:nowrap">our </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:728.64px;left:6480.88px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:728.64px;left:7401.27px;white-space:nowrap">management </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:728.64px;left:8501.92px;letter-spacing:-1.21px;white-space:nowrap">philosophy.</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:-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;letter-spacing:-2.76px;white-space:nowrap">2/28/21</div><div style="font-family:Arial, sans-serif;font-size:151.6px;position:absolute;top:1810.13px;left:3044.72px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:4337.6px;left:0px;white-space:nowrap">Performance </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:4337.6px;left:1080.44px;white-space:nowrap">data </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:4337.6px;left:1480.78px;white-space:nowrap">represent </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:4337.6px;left:2291.22px;white-space:nowrap">past </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:4337.6px;left:2681.46px;white-space:nowrap">performance, </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:4337.6px;left:3791.95px;white-space:nowrap">which </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:4337.6px;left:4302.16px;white-space:nowrap">does </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:4337.6px;left:4742.49px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:4337.6px;left:5042.72px;white-space:nowrap">guarantee </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:4337.6px;left:5903.44px;white-space:nowrap">future </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:4337.6px;left:6413.73px;white-space:nowrap">results. </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:4337.6px;left:7043.91px;white-space:nowrap">Investment </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:4337.6px;left:7974.32px;white-space:nowrap">return </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:4337.6px;left:8494.54px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:4337.6px;left:8844.87px;white-space:nowrap">principal </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:4337.6px;left:9565.22px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:4587.6px;left:0px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:4587.6px;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:4587.6px;left:1080.44px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:4587.6px;left:1430.77px;white-space:nowrap">you </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:4587.6px;left:1771px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:4587.6px;left:2161.05px;white-space:nowrap">have </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:4587.6px;left:2601.39px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:4587.6px;left:2751.5px;white-space:nowrap">gain </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:4587.6px;left:3141.83px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:4587.6px;left:3351.88px;white-space:nowrap">loss </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:4587.6px;left:3721.99px;white-space:nowrap">when </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:4587.6px;left:4202.31px;white-space:nowrap">you </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:4587.6px;left:4542.54px;white-space:nowrap">sell </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:4587.6px;left:4862.64px;white-space:nowrap">your </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:4587.6px;left:5262.8px;white-space:nowrap">shares. </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:4587.6px;left:5903.09px;white-space:nowrap">Current </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:4587.6px;left:6553.3px;white-space:nowrap">performance </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:4587.6px;left:7613.79px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:4587.6px;left:8003.85px;white-space:nowrap">differ </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:4587.6px;left:8454.02px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:4587.6px;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:4587.6px;left:9454.31px;white-space:nowrap">shown.</div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:5163.87px;left:0px;white-space:nowrap">Shares </div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:5163.87px;left:896.04px;white-space:nowrap">Prices</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:20px;position:absolute;top:6532.52px;left:0px;white-space:nowrap">1</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8027.79px;left:0px;white-space:nowrap">All </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8027.79px;left:204.14px;white-space:nowrap">investments </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8027.79px;left:1006.25px;white-space:nowrap">involve </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8027.79px;left:1494.92px;white-space:nowrap">risks, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8027.79px;left:1874.3px;white-space:nowrap">including </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8027.79px;left:2493.98px;white-space:nowrap">possible </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8027.79px;left:3062.81px;white-space:nowrap">loss </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8027.79px;left:3361.88px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8027.79px;left:3522.19px;white-space:nowrap">principal. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8027.79px;left:4142.03px;white-space:nowrap">Bond </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8027.79px;left:4513.67px;white-space:nowrap">prices </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8027.79px;left:4936.72px;white-space:nowrap">generally </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8027.79px;left:5549.38px;white-space:nowrap">move </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8027.79px;left:5928.59px;white-space:nowrap">in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8027.79px;left:6081.72px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8027.79px;left:6315px;white-space:nowrap">opposite </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8027.79px;left:6898.2px;white-space:nowrap">direction </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8027.79px;left:7488.75px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8027.79px;left:7649.06px;white-space:nowrap">interest </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8027.79px;left:8159.45px;white-space:nowrap">rates. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8027.79px;left:8541.25px;white-space:nowrap">As </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8027.79px;left:8745.39px;white-space:nowrap">prices </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8027.79px;left:9168.44px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8027.79px;left:9328.75px;white-space:nowrap">bonds </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8027.79px;left:9758.83px;white-space:nowrap">in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8207.79px;left:0px;white-space:nowrap">a </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8207.79px;left:109.45px;white-space:nowrap">fund </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8207.79px;left:430.08px;white-space:nowrap">adjust </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8207.79px;left:852.97px;white-space:nowrap">to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8207.79px;left:1013.28px;white-space:nowrap">a </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8207.79px;left:1122.73px;white-space:nowrap">rise </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8207.79px;left:1392.66px;white-space:nowrap">in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8207.79px;left:1545.78px;white-space:nowrap">interest </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8207.79px;left:2056.17px;white-space:nowrap">rates, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8207.79px;left:2442.73px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8207.79px;left:2676.02px;letter-spacing:-0.68px;white-space:nowrap">fund&#8217;s </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8207.79px;left:3101.33px;white-space:nowrap">share </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8207.79px;left:3487.89px;white-space:nowrap">price </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8207.79px;left:3837.97px;white-space:nowrap">may </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8207.79px;left:4137.03px;white-space:nowrap">decline. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8207.79px;left:4662.19px;white-space:nowrap">Investments </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8207.79px;left:5464.3px;white-space:nowrap">in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8207.79px;left:5617.42px;white-space:nowrap">lower-rated </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8207.79px;left:6361.09px;white-space:nowrap">bonds </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8207.79px;left:6791.17px;white-space:nowrap">include </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8207.79px;left:7287.03px;white-space:nowrap">higher </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8207.79px;left:7724.45px;white-space:nowrap">risk </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8207.79px;left:7994.38px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8207.79px;left:8154.69px;white-space:nowrap">default </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8207.79px;left:8621.25px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8207.79px;left:8891.02px;white-space:nowrap">loss </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8207.79px;left:9190.08px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8207.79px;left:9350.39px;white-space:nowrap">principal. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8387.79px;left:0px;white-space:nowrap">Stock </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8387.79px;left:393.75px;white-space:nowrap">prices </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8387.79px;left:816.8px;text-rendering:optimizeLegibility;white-space:nowrap">fluctuate, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8387.79px;left:1436.48px;white-space:nowrap">sometimes </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8387.79px;left:2158.44px;white-space:nowrap">rapidly </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8387.79px;left:2625.16px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8387.79px;left:2894.92px;letter-spacing:-0.69px;white-space:nowrap">dramatically, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8387.79px;left:3724.06px;white-space:nowrap">due </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8387.79px;left:3993.83px;white-space:nowrap">to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8387.79px;left:4154.14px;white-space:nowrap">factors </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8387.79px;left:4628.05px;white-space:nowrap">affecting </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8387.79px;left:5211.25px;white-space:nowrap">individual </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8387.79px;left:5860.23px;white-space:nowrap">companies, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8387.79px;left:6618.67px;white-space:nowrap">particular </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8387.79px;left:7253.05px;white-space:nowrap">industries </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8387.79px;left:7916.56px;white-space:nowrap">or </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8387.79px;left:8084.22px;white-space:nowrap">sectors, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8387.79px;left:8623.91px;white-space:nowrap">or </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8387.79px;left:8791.56px;white-space:nowrap">general </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8387.79px;left:9294.77px;white-space:nowrap">market </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8567.79px;left:0px;white-space:nowrap">conditions. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8567.79px;left:736.33px;white-space:nowrap">In </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8567.79px;left:889.45px;white-space:nowrap">addition </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8567.79px;left:1436.17px;white-space:nowrap">to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8567.79px;left:1596.48px;white-space:nowrap">having </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8567.79px;left:2055.86px;white-space:nowrap">sensitivity </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8567.79px;left:2734.14px;white-space:nowrap">to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8567.79px;left:2894.45px;white-space:nowrap">other </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8567.79px;left:3258.91px;white-space:nowrap">factors, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8567.79px;left:3769.3px;white-space:nowrap">securities </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8567.79px;left:4418.44px;white-space:nowrap">issued </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8567.79px;left:4870.63px;white-space:nowrap">by </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8567.79px;left:5060.23px;white-space:nowrap">utility </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8567.79px;left:5446.64px;white-space:nowrap">companies </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8567.79px;left:6168.59px;white-space:nowrap">have </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8567.79px;left:6504.14px;white-space:nowrap">historically </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8567.79px;left:7233.44px;white-space:nowrap">been </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8567.79px;left:7576.17px;white-space:nowrap">sensitive </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8567.79px;left:8174.3px;white-space:nowrap">to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8567.79px;left:8334.61px;white-space:nowrap">interest </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8567.79px;left:8845px;white-space:nowrap">rate </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8567.79px;left:9122.11px;white-space:nowrap">changes. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8567.79px;left:9727.42px;white-space:nowrap">When </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8747.79px;left:0px;white-space:nowrap">interest </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8747.79px;left:510.39px;white-space:nowrap">rates </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8747.79px;left:860.47px;white-space:nowrap">fall, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8747.79px;left:1123.05px;white-space:nowrap">utility </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8747.79px;left:1509.45px;white-space:nowrap">securities </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8747.79px;left:2158.59px;white-space:nowrap">prices, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8747.79px;left:2618.13px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8747.79px;left:2887.89px;white-space:nowrap">thus </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8747.79px;left:3201.33px;white-space:nowrap">a </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8747.79px;left:3310.78px;white-space:nowrap">utilities </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8747.79px;left:3806.64px;letter-spacing:-0.68px;white-space:nowrap">fund&#8217;s </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8747.79px;left:4231.95px;white-space:nowrap">share </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8747.79px;left:4618.52px;white-space:nowrap">price, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8747.79px;left:5005.08px;white-space:nowrap">tend </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8747.79px;left:5318.52px;white-space:nowrap">to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8747.79px;left:5478.83px;white-space:nowrap">rise; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8747.79px;left:5792.42px;white-space:nowrap">when </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8747.79px;left:6164.3px;white-space:nowrap">interest </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8747.79px;left:6674.69px;white-space:nowrap">rates </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8747.79px;left:7024.77px;white-space:nowrap">rise, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8747.79px;left:7331.17px;white-space:nowrap">their </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8747.79px;left:7651.95px;white-space:nowrap">prices </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8747.79px;left:8075px;white-space:nowrap">generally </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8747.79px;left:8687.66px;white-space:nowrap">fall. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8747.79px;left:8950.23px;white-space:nowrap">For </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8747.79px;left:9198.05px;white-space:nowrap">stocks </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8747.79px;left:9650.23px;white-space:nowrap">paying </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8927.79px;left:0px;white-space:nowrap">dividends, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8927.79px;left:685.47px;white-space:nowrap">dividends </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8927.79px;left:1334.45px;white-space:nowrap">are </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8927.79px;left:1567.89px;white-space:nowrap">not </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8927.79px;left:1808.36px;white-space:nowrap">guaranteed, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8927.79px;left:2588.52px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8927.79px;left:2858.28px;white-space:nowrap">can </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8927.79px;left:3120.86px;white-space:nowrap">increase, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8927.79px;left:3726.33px;white-space:nowrap">decrease </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8927.79px;left:4331.8px;white-space:nowrap">or </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8927.79px;left:4499.45px;white-space:nowrap">be </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8927.79px;left:4689.06px;white-space:nowrap">totally </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8927.79px;left:5111.95px;white-space:nowrap">eliminated </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8927.79px;left:5797.42px;white-space:nowrap">without </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8927.79px;left:6300.31px;white-space:nowrap">notice. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8927.79px;left:6759.69px;white-space:nowrap">Events </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8927.79px;left:7226.41px;white-space:nowrap">such </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8927.79px;left:7569.14px;white-space:nowrap">as </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8927.79px;left:7751.56px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8927.79px;left:7984.84px;white-space:nowrap">spread </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8927.79px;left:8451.56px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8927.79px;left:8611.88px;white-space:nowrap">deadly </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8927.79px;left:9064.06px;white-space:nowrap">diseases, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8927.79px;left:9691.48px;white-space:nowrap">disas-</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:9107.79px;left:0px;white-space:nowrap">ters, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:9107.79px;left:313.59px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:9107.79px;left:583.36px;text-rendering:optimizeLegibility;white-space:nowrap">financial, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:9107.79px;left:1188.67px;white-space:nowrap">political </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:9107.79px;left:1721.02px;white-space:nowrap">or </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:9107.79px;left:1888.67px;white-space:nowrap">social </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:9107.79px;left:2297.19px;white-space:nowrap">disruptions, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:9107.79px;left:3084.53px;white-space:nowrap">may </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:9107.79px;left:3383.59px;white-space:nowrap">heighten </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:9107.79px;left:3966.8px;white-space:nowrap">risks </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:9107.79px;left:4309.69px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:9107.79px;left:4579.45px;white-space:nowrap">adversely </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:9107.79px;left:5221.41px;white-space:nowrap">affect </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:9107.79px;left:5607.81px;white-space:nowrap">performance. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:9107.79px;left:6475.47px;white-space:nowrap">The </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:9107.79px;left:6745.23px;white-space:nowrap">Fund </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:9107.79px;left:7102.34px;white-space:nowrap">is </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:9107.79px;left:7248.28px;white-space:nowrap">actively </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:9107.79px;left:7766.25px;white-space:nowrap">managed </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:9107.79px;left:8378.75px;white-space:nowrap">but </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:9107.79px;left:8619.22px;white-space:nowrap">there </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:9107.79px;left:8976.48px;white-space:nowrap">is </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:9107.79px;left:9122.42px;white-space:nowrap">no </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:9107.79px;left:9319.22px;white-space:nowrap">guarantee </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:9287.79px;left:0px;white-space:nowrap">that </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:9287.79px;left:276.95px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:9287.79px;left:510.23px;white-space:nowrap">manager&#8217;s </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:9287.79px;left:1203.05px;white-space:nowrap">investment </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:9287.79px;left:1932.19px;white-space:nowrap">decisions </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:9287.79px;left:2573.98px;white-space:nowrap">will </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:9287.79px;left:2822.03px;white-space:nowrap">produce </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:9287.79px;left:3376.09px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:9287.79px;left:3609.38px;white-space:nowrap">desire </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:9287.79px;left:4032.42px;white-space:nowrap">results.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9647.79px;left:0px;white-space:nowrap">1. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9647.79px;left:143.67px;white-space:nowrap">The </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9647.79px;left:406.25px;white-space:nowrap">Fund </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9647.79px;left:741.8px;white-space:nowrap">has </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9647.79px;left:989.84px;white-space:nowrap">a </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9647.79px;left:1099.3px;white-space:nowrap">fee </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9647.79px;left:1318.2px;white-space:nowrap">waiver </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9647.79px;left:1733.75px;white-space:nowrap">associated </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9647.79px;left:2397.58px;white-space:nowrap">with </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9647.79px;left:2667.34px;white-space:nowrap">any </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9647.79px;left:2915.39px;white-space:nowrap">investment </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9647.79px;left:3586.41px;white-space:nowrap">it </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9647.79px;left:3688.52px;white-space:nowrap">makes </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9647.79px;left:4111.48px;white-space:nowrap">in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9647.79px;left:4250.08px;white-space:nowrap">a </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9647.79px;left:4359.53px;white-space:nowrap">Franklin </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9647.79px;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:9647.79px;left:5502.27px;white-space:nowrap">money </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9647.79px;left:5932.58px;white-space:nowrap">fund </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9647.79px;left:6224.45px;white-space:nowrap">and/or </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9647.79px;left:6632.97px;white-space:nowrap">other </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9647.79px;left:6968.52px;white-space:nowrap">Franklin </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9647.79px;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:9647.79px;left:8111.25px;white-space:nowrap">fund, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9647.79px;left:8439.61px;white-space:nowrap">contractually </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9647.79px;left:9212.73px;white-space:nowrap">guaranteed </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9827.79px;left:0px;white-space:nowrap">through </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9827.79px;left:481.48px;white-space:nowrap">10/31/21. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9827.79px;left:1065.23px;white-space:nowrap">Fund </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9827.79px;left:1400.78px;white-space:nowrap">investment </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9827.79px;left:2071.8px;white-space:nowrap">results </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9827.79px;left:2494.77px;text-rendering:optimizeLegibility;white-space:nowrap">reflect </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9827.79px;left:2888.59px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9827.79px;left:3107.5px;white-space:nowrap">fee </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9827.79px;left:3326.41px;white-space:nowrap">waiver; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9827.79px;left:3778.44px;white-space:nowrap">without </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9827.79px;left:4230.63px;white-space:nowrap">this </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9827.79px;left:4471.33px;letter-spacing:-0.9px;white-space:nowrap">waiver, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9827.79px;left:4916.17px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9827.79px;left:5135.08px;white-space:nowrap">results </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9827.79px;left:5558.05px;white-space:nowrap">would </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9827.79px;left:5937.27px;white-space:nowrap">have </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9827.79px;left:6258.28px;white-space:nowrap">been </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9827.79px;left:6586.64px;letter-spacing:-0.65px;white-space:nowrap">lower. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:10036.59px;left:0px;white-space:nowrap">2. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:10036.59px;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:10036.59px;left:457.34px;white-space:nowrap">return </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:10036.59px;left:836.56px;white-space:nowrap">calculations </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:10036.59px;left:1558.67px;white-space:nowrap">represent </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:10036.59px;left:2149.45px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:10036.59px;left:2368.36px;white-space:nowrap">cumulative </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:10036.59px;left:3032.03px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:10036.59px;left:3287.42px;white-space:nowrap">average </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:10036.59px;left:3798.05px;white-space:nowrap">annual </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:10036.59px;left:4228.52px;white-space:nowrap">changes </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:10036.59px;left:4761.09px;white-space:nowrap">in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:10036.59px;left:4899.69px;white-space:nowrap">value </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:10036.59px;left:5249.84px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:10036.59px;left:5395.78px;white-space:nowrap">an </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:10036.59px;left:5578.2px;white-space:nowrap">investment </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:10036.59px;left:6249.22px;white-space:nowrap">over </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:10036.59px;left:6540.94px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:10036.59px;left:6759.84px;white-space:nowrap">periods </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:10036.59px;left:7226.64px;white-space:nowrap">indicated. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:10036.59px;left:7824.84px;white-space:nowrap">Return </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:10036.59px;left:8255.08px;white-space:nowrap">for </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:10036.59px;left:8444.69px;white-space:nowrap">less </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:10036.59px;left:8714.53px;white-space:nowrap">than </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:10036.59px;left:9006.41px;white-space:nowrap">one </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:10036.59px;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:10036.59px;left:9582.81px;white-space:nowrap">if </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:10036.59px;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:10216.59px;left:0px;white-space:nowrap">has </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:10216.59px;left:248.05px;white-space:nowrap">not </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:10216.59px;left:466.95px;white-space:nowrap">been </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:10216.59px;left:795.31px;white-space:nowrap">annualized.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:10425.39px;left:0px;white-space:nowrap">3. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:10425.39px;left:138.75px;white-space:nowrap">Assumes </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:10425.39px;left:714.84px;white-space:nowrap">reinvestment </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:10425.39px;left:1502.5px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:10425.39px;left:1648.44px;white-space:nowrap">distributions </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:10425.39px;left:2385.08px;white-space:nowrap">based </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:10425.39px;left:2779.06px;white-space:nowrap">on </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:10425.39px;left:2961.48px;white-space:nowrap">net </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:10425.39px;left:3180.39px;white-space:nowrap">asset </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:10425.39px;left:3530.55px;white-space:nowrap">value.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:10634.19px;left:0px;white-space:nowrap">4. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:10634.19px;left:138.75px;white-space:nowrap">Assumes </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:10634.19px;left:714.84px;white-space:nowrap">reinvestment </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:10634.19px;left:1502.5px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:10634.19px;left:1648.44px;white-space:nowrap">distributions </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:10634.19px;left:2385.08px;white-space:nowrap">based </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:10634.19px;left:2779.06px;white-space:nowrap">on </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:10634.19px;left:2961.48px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:10634.19px;left:3180.39px;white-space:nowrap">dividend </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:10634.19px;left:3705.63px;white-space:nowrap">reinvestment </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:10634.19px;left:4493.28px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:10634.19px;left:4748.67px;white-space:nowrap">cash </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:10634.19px;left:5062.34px;white-space:nowrap">purchase </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:10634.19px;left:5638.59px;white-space:nowrap">plan.</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">1</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">1</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">2</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">3</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">2</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">3</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3146.09px;left:0px;white-space:nowrap">6-Month</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3146.09px;left:4641.89px;white-space:nowrap">+5.18%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3146.09px;left:6225.89px;white-space:nowrap">+7.34%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3146.09px;left:7953.89px;white-space:nowrap">+5.18%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3146.09px;left:9537.89px;white-space:nowrap">+7.34%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3406.57px;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:3406.57px;left:4641.89px;white-space:nowrap">+4.57%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3406.57px;left:6225.89px;white-space:nowrap">+7.79%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3406.57px;left:7953.89px;white-space:nowrap">+4.57%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3406.57px;left:9537.89px;white-space:nowrap">+7.79%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3667.05px;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:3667.05px;left:4552.91px;white-space:nowrap">+59.90%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3667.05px;left:6136.91px;white-space:nowrap">+62.33%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3667.05px;left:7953.89px;white-space:nowrap">+9.84%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3667.05px;left:9448.91px;white-space:nowrap">+10.17%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3927.54px;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:3927.54px;left:4463.92px;white-space:nowrap">+104.33%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3927.54px;left:6059.8px;letter-spacing:-1.48px;white-space:nowrap">+110.31%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3927.54px;left:7953.89px;white-space:nowrap">+7.41%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3927.54px;left:9537.89px;white-space:nowrap">+7.72%</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5574.62px;left:0px;white-space:nowrap">Symbol: </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5574.62px;left:675.63px;white-space:nowrap">FT</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5574.62px;left:6383.17px;white-space:nowrap">2/28/21</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5574.62px;left:7967.17px;white-space:nowrap">8/31/20</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5574.62px;left:9498.28px;white-space:nowrap">Change</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5894.56px;left:0px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5894.56px;left:284.61px;white-space:nowrap">Asset </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5894.56px;left:729.22px;letter-spacing:-1.98px;white-space:nowrap">Value </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5894.56px;left:1171.02px;letter-spacing:-2.37px;white-space:nowrap">(NAV)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5894.56px;left:6516.61px;white-space:nowrap">$8.35</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5894.56px;left:8100.61px;white-space:nowrap">$8.12</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5894.56px;left:9591.17px;white-space:nowrap">+$0.23</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6155.05px;left:0px;white-space:nowrap">Market </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6155.05px;left:533.44px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6155.05px;left:942.42px;white-space:nowrap">(NYSE)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6155.05px;left:6516.61px;white-space:nowrap">$7.32</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6155.05px;left:8100.61px;white-space:nowrap">$7.00</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6155.05px;left:9591.17px;white-space:nowrap">+$0.32</div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:6668.67px;left:0px;white-space:nowrap">Distributions</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6753.33px;left:1474.96px;white-space:nowrap">(9/1/20&#8211;2/28/21)</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:7159.28px;left:8938.05px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:7159.28px;left:9240.31px;white-space:nowrap">Investment</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:7351.28px;left:9524.84px;white-space:nowrap">Income</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7688.22px;left:9506.64px;white-space:nowrap">$0.1920</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">Semiannual </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:729.38px;white-space:nowrap">Report</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:1279.06px;white-space:nowrap">The </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:1541.64px;white-space:nowrap">accompanying </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:2424.22px;white-space:nowrap">notes </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:2781.72px;white-space:nowrap">are </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:3007.81px;white-space:nowrap">an </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:3190.23px;white-space:nowrap">integral </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:3657.03px;white-space:nowrap">part </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:3919.61px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:4065.55px;white-space:nowrap">these </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:4423.05px;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:4940.94px;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">6</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: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="color:#ffffff;font-family:Arial, sans-serif;font-size:160px;position:absolute;top:821.02px;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:3317.32px;white-space:nowrap">Six </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:53.02px;left:3601.93px;white-space:nowrap">Months </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:245.02px;left:3499.55px;white-space:nowrap">Ended </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:437.02px;left:3401.66px;white-space:nowrap">February </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:629.02px;left:3432.59px;white-space:nowrap">28, </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:629.02px;left:3699.47px;white-space:nowrap">2021 </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:821.02px;left:3308.53px;white-space:nowrap">(unaudited)</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:53.02px;left:6336.05px;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:6718.63px;white-space:nowrap">Ended </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:53.02px;left:7246.05px;white-space:nowrap">August </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:53.02px;left:7841.52px;white-space:nowrap">31,</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:821.02px;left:4718.03px;white-space:nowrap">2020</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:821.02px;left:5870.03px;white-space:nowrap">2019</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:821.02px;left:7022.03px;white-space:nowrap">2018</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:821.02px;left:8174.03px;white-space:nowrap">2017</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:821.02px;left:9326.03px;white-space:nowrap">2016</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1133.96px;left:0px;white-space:nowrap">Per </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1133.96px;left:302.42px;white-space:nowrap">share </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1133.96px;left:773.83px;white-space:nowrap">operating </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1133.96px;left:1547.19px;white-space:nowrap">performance</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1336.44px;left:0px;white-space:nowrap">(for </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1336.44px;left:284.45px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1336.44px;left:417.89px;white-space:nowrap">share </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1336.44px;left:862.58px;white-space:nowrap">outstanding </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1336.44px;left:1734.38px;white-space:nowrap">throughout </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1336.44px;left:2543.91px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1528.44px;left:144px;white-space:nowrap">period)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1730.92px;left:0px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1730.92px;left:293.44px;white-space:nowrap">asset </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1730.92px;left:720.31px;white-space:nowrap">value, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1730.92px;left:1191.72px;white-space:nowrap">beginning </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1730.92px;left:1930.16px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1730.92px;left:2108.05px;white-space:nowrap">period</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1730.92px;left:2615.57px;letter-spacing:56.24px;white-space:nowrap">.....</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1730.92px;left:3919.61px;white-space:nowrap">$8.12</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1730.92px;left:5071.61px;white-space:nowrap">$8.57</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1730.92px;left:6223.61px;white-space:nowrap">$7.99</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1730.92px;left:7375.61px;white-space:nowrap">$8.24</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1730.92px;left:8527.61px;white-space:nowrap">$7.67</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1730.92px;left:9691.48px;letter-spacing:-2.37px;white-space:nowrap">$7.11</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1933.41px;left:0px;white-space:nowrap">Income </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1933.41px;left:569.14px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1933.41px;left:933.59px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1933.41px;left:1751.72px;white-space:nowrap">operations:</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2135.89px;left:144px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2135.89px;left:437.44px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2135.89px;left:1255.56px;white-space:nowrap">income</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:2139.1px;left:1771.34px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2135.89px;left:1868.26px;letter-spacing:51.76px;white-space:nowrap">.............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2135.89px;left:4008.59px;white-space:nowrap">0.21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2135.89px;left:5160.59px;white-space:nowrap">0.41</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2135.89px;left:6312.59px;white-space:nowrap">0.38</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2135.89px;left:7464.59px;white-space:nowrap">0.39</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2135.89px;left:8616.59px;white-space:nowrap">0.38</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2135.89px;left:9768.59px;white-space:nowrap">0.39</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2338.38px;left:144px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2338.38px;left:437.44px;white-space:nowrap">realized </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2338.38px;left:1042.2px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2338.38px;left:1353.61px;white-space:nowrap">unrealized </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2338.38px;left:2136.34px;white-space:nowrap">gains </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2338.38px;left:2563.3px;white-space:nowrap">(losses)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2338.38px;left:4008.59px;white-space:nowrap">0.21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2338.38px;left:5054.03px;white-space:nowrap">(0.48)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2338.38px;left:6312.59px;white-space:nowrap">0.58</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2338.38px;left:7358.03px;white-space:nowrap">(0.26)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2338.38px;left:8616.59px;white-space:nowrap">0.57</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2338.38px;left:9768.59px;white-space:nowrap">0.64</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2569.86px;left:0px;letter-spacing:-2.96px;white-space:nowrap">Total </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2569.86px;left:382.42px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2569.86px;left:746.88px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2569.86px;left:1565px;white-space:nowrap">operations</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2569.86px;left:2335.33px;letter-spacing:53.51px;white-space:nowrap">........</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2569.86px;left:4008.59px;white-space:nowrap">0.42</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2569.86px;left:5054.03px;white-space:nowrap">(0.07)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2569.86px;left:6312.59px;white-space:nowrap">0.96</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2569.86px;left:7464.59px;white-space:nowrap">0.13</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2569.86px;left:8616.59px;white-space:nowrap">0.95</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2569.86px;left:9768.59px;white-space:nowrap">1.03</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2801.35px;left:0px;white-space:nowrap">Less </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2801.35px;left:382.42px;white-space:nowrap">distributions </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2801.35px;left:1280.63px;white-space:nowrap">from:</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3003.83px;left:144px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3003.83px;left:437.44px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3003.83px;left:1255.56px;white-space:nowrap">income</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3003.83px;left:1774.85px;letter-spacing:51.56px;white-space:nowrap">..............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3003.83px;left:3902.03px;white-space:nowrap">(0.19)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3003.83px;left:5054.03px;white-space:nowrap">(0.38)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3003.83px;left:6206.03px;white-space:nowrap">(0.38)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3003.83px;left:7358.03px;white-space:nowrap">(0.38)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3003.83px;left:8510.03px;white-space:nowrap">(0.38)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3003.83px;left:9662.03px;white-space:nowrap">(0.47)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3206.32px;left:144px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3206.32px;left:437.44px;white-space:nowrap">realized </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3206.32px;left:1042.2px;white-space:nowrap">gains</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3206.32px;left:1494.61px;letter-spacing:51.1px;white-space:nowrap">.................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3206.32px;left:4160px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3206.32px;left:5153.56px;white-space:nowrap">(&#8212;)</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:3209.53px;left:5420.12px;white-space:nowrap">b</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3206.32px;left:6464px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3206.32px;left:7616px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3206.32px;left:8768px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3206.32px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3437.8px;left:0px;letter-spacing:-2.96px;white-space:nowrap">Total </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3437.8px;left:382.42px;white-space:nowrap">distributions</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3437.8px;left:1307.78px;letter-spacing:50.88px;white-space:nowrap">...................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3437.8px;left:3902.03px;white-space:nowrap">(0.19)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3437.8px;left:5054.03px;white-space:nowrap">(0.38)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3437.8px;left:6206.03px;white-space:nowrap">(0.38)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3437.8px;left:7358.03px;white-space:nowrap">(0.38)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3437.8px;left:8510.03px;white-space:nowrap">(0.38)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3437.8px;left:9662.03px;white-space:nowrap">(0.47)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3698.28px;left:0px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3698.28px;left:293.44px;white-space:nowrap">asset </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3698.28px;left:720.31px;white-space:nowrap">value, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3698.28px;left:1191.72px;white-space:nowrap">end </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3698.28px;left:1503.13px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3698.28px;left:1681.02px;white-space:nowrap">period</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3698.28px;left:2148.5px;letter-spacing:52.6px;white-space:nowrap">..........</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3698.28px;left:3919.61px;white-space:nowrap">$8.35</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3698.28px;left:5071.61px;white-space:nowrap">$8.12</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3698.28px;left:6223.61px;white-space:nowrap">$8.57</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3698.28px;left:7375.61px;white-space:nowrap">$7.99</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3698.28px;left:8527.61px;white-space:nowrap">$8.24</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3698.28px;left:9679.61px;white-space:nowrap">$7.67</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3958.77px;left:0px;white-space:nowrap">Market </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3958.77px;left:533.44px;white-space:nowrap">value, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3958.77px;left:1004.84px;white-space:nowrap">end </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3958.77px;left:1316.25px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3958.77px;left:1494.14px;white-space:nowrap">period</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:3961.98px;left:1938.91px;white-space:nowrap">c</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3958.77px;left:2055.09px;letter-spacing:52.27px;white-space:nowrap">...........</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3958.77px;left:3919.61px;white-space:nowrap">$7.32</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3958.77px;left:5071.61px;white-space:nowrap">$7.00</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3958.77px;left:6223.61px;white-space:nowrap">$7.37</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3958.77px;left:7375.61px;white-space:nowrap">$6.77</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3958.77px;left:8527.61px;white-space:nowrap">$7.24</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3958.77px;left:9679.61px;white-space:nowrap">$6.84</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4277.71px;left:0px;letter-spacing:-2.96px;white-space:nowrap">Total </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4277.71px;left:382.42px;white-space:nowrap">return </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4277.71px;left:844.84px;white-space:nowrap">(based </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4277.71px;left:1378.52px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4277.71px;left:1600.94px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4277.71px;left:2134.38px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4277.71px;left:2561.33px;white-space:nowrap">per </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4469.71px;left:0px;white-space:nowrap">share)</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:4472.92px;left:453.52px;white-space:nowrap">d</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4469.71px;left:560.48px;letter-spacing:50.31px;white-space:nowrap">...........................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4469.71px;left:3866.33px;white-space:nowrap">7.34%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4469.71px;left:5018.33px;white-space:nowrap">0.25%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4469.71px;left:6081.34px;white-space:nowrap">15.02%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4469.71px;left:7215.77px;white-space:nowrap">(1.18)%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4469.71px;left:8397.22px;letter-spacing:-1.98px;white-space:nowrap">11.81%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4469.71px;left:9537.34px;white-space:nowrap">20.76%</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4759.65px;left:0px;white-space:nowrap">Ratios </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4759.65px;left:533.44px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4759.65px;left:728.91px;white-space:nowrap">average </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4759.65px;left:1378.28px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4759.65px;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:4762.86px;left:2160.94px;white-space:nowrap">e</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4962.13px;left:0px;white-space:nowrap">Expenses </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4962.13px;left:747.11px;white-space:nowrap">before </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4962.13px;left:1245.23px;white-space:nowrap">waiver </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4962.13px;left:1752.03px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4962.13px;left:2063.44px;white-space:nowrap">payments </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4962.13px;left:2801.56px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5154.13px;left:0px;text-rendering:optimizeLegibility;white-space:nowrap">affiliates</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5154.13px;left:653.89px;letter-spacing:50.36px;white-space:nowrap">..........................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5154.13px;left:3866.33px;white-space:nowrap">2.54%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5154.13px;left:5018.33px;white-space:nowrap">2.49%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5154.13px;left:6170.33px;white-space:nowrap">2.45%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5154.13px;left:7322.33px;white-space:nowrap">1.98%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5154.13px;left:8474.33px;white-space:nowrap">2.00%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5154.13px;left:9626.33px;white-space:nowrap">2.13%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5356.62px;left:0px;white-space:nowrap">Expenses </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5356.62px;left:747.11px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5356.62px;left:1013.98px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5356.62px;left:1191.88px;white-space:nowrap">waiver </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5356.62px;left:1698.67px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5356.62px;left:2010.08px;white-space:nowrap">payments </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5356.62px;left:2748.2px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5548.62px;left:0px;text-rendering:optimizeLegibility;white-space:nowrap">affiliates</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:5551.83px;left:586.95px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5548.62px;left:653.89px;letter-spacing:50.36px;white-space:nowrap">..........................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5548.62px;left:3814.45px;white-space:nowrap">2.54%</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:5551.83px;left:4268.12px;white-space:nowrap">g</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5548.62px;left:4966.45px;white-space:nowrap">2.49%</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:5551.83px;left:5420.12px;white-space:nowrap">g</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5548.62px;left:6170.33px;white-space:nowrap">2.44%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5548.62px;left:7270.45px;white-space:nowrap">1.98%</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:5551.83px;left:7724.12px;white-space:nowrap">g</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5548.62px;left:8474.33px;white-space:nowrap">1.99%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5548.62px;left:9626.33px;white-space:nowrap">2.12%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5751.1px;left:0px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5751.1px;left:293.44px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5751.1px;left:1111.56px;white-space:nowrap">income</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5751.1px;left:1681.44px;letter-spacing:51.39px;white-space:nowrap">...............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5751.1px;left:3866.33px;white-space:nowrap">5.12%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5751.1px;left:5018.33px;white-space:nowrap">5.01%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5751.1px;left:6170.33px;white-space:nowrap">4.69%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5751.1px;left:7322.33px;white-space:nowrap">4.91%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5751.1px;left:8474.33px;white-space:nowrap">4.81%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5751.1px;left:9626.33px;white-space:nowrap">5.48%</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6041.04px;left:0px;white-space:nowrap">Supplemental </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6041.04px;left:1093.52px;white-space:nowrap">data</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6243.53px;left:0px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6243.53px;left:293.44px;white-space:nowrap">assets, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6243.53px;left:844.77px;white-space:nowrap">end </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6243.53px;left:1156.17px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6243.53px;left:1334.06px;white-space:nowrap">period </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6243.53px;left:1823.28px;letter-spacing:-0.41px;white-space:nowrap">(000&#8217;s)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6243.53px;left:2335.33px;letter-spacing:53.51px;white-space:nowrap">........</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6243.53px;left:3652.66px;white-space:nowrap">$209,771</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6243.53px;left:4804.66px;white-space:nowrap">$204,094</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6243.53px;left:5956.66px;white-space:nowrap">$215,292</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6243.53px;left:7108.66px;white-space:nowrap">$200,796</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6243.53px;left:8260.66px;white-space:nowrap">$206,965</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6243.53px;left:9412.66px;white-space:nowrap">$192,682</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6446.01px;left:0px;white-space:nowrap">Portfolio </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6446.01px;left:631.41px;white-space:nowrap">turnover </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6446.01px;left:1262.81px;white-space:nowrap">rate</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6446.01px;left:1588.02px;letter-spacing:51.24px;white-space:nowrap">................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6446.01px;left:3777.34px;white-space:nowrap">16.54%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6446.01px;left:4929.34px;white-space:nowrap">35.26%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6446.01px;left:6081.34px;white-space:nowrap">21.70%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6446.01px;left:7233.34px;white-space:nowrap">22.96%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6446.01px;left:8385.34px;white-space:nowrap">23.25%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6446.01px;left:9537.34px;white-space:nowrap">21.13%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6648.5px;left:0px;letter-spacing:-2.96px;white-space:nowrap">Total </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6648.5px;left:382.42px;white-space:nowrap">debt </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6648.5px;left:738.28px;white-space:nowrap">outstanding </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6648.5px;left:1610.08px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6648.5px;left:1787.97px;white-space:nowrap">end </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6648.5px;left:2099.38px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6648.5px;left:2277.27px;white-space:nowrap">period </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6840.5px;left:0px;white-space:nowrap">(000&#39;s)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6840.5px;left:560.48px;letter-spacing:50.31px;white-space:nowrap">...........................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6840.5px;left:3741.64px;white-space:nowrap">$65,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6840.5px;left:4893.64px;white-space:nowrap">$65,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6840.5px;left:6045.64px;white-space:nowrap">$65,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6840.5px;left:7197.64px;white-space:nowrap">$65,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6840.5px;left:8349.64px;white-space:nowrap">$60,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6840.5px;left:9501.64px;white-space:nowrap">$60,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7042.98px;left:0px;white-space:nowrap">Asset </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7042.98px;left:444.61px;white-space:nowrap">coverage </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7042.98px;left:1147.27px;white-space:nowrap">per </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7042.98px;left:1422.97px;white-space:nowrap">$1,000 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7042.98px;left:1956.8px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7042.98px;left:2134.69px;white-space:nowrap">debt</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7042.98px;left:2522.15px;letter-spacing:55.03px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7042.98px;left:3830.62px;white-space:nowrap">$4,227</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7042.98px;left:4982.62px;white-space:nowrap">$4,140</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7042.98px;left:6134.62px;white-space:nowrap">$4,312</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7042.98px;left:7286.62px;white-space:nowrap">$4,089</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7042.98px;left:8438.63px;white-space:nowrap">$4,449</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7042.98px;left:9602.5px;letter-spacing:-1.98px;white-space:nowrap">$4,211</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7245.46px;left:0px;letter-spacing:-0.36px;white-space:nowrap">Average </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7245.46px;left:637.5px;white-space:nowrap">amount </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7245.46px;left:1215.63px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7245.46px;left:1393.52px;white-space:nowrap">senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7245.46px;left:1873.75px;white-space:nowrap">rate </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7245.46px;left:2193.91px;text-rendering:optimizeLegibility;white-space:nowrap">fixed </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7245.46px;left:2576.33px;white-space:nowrap">Notes </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7437.46px;left:0px;white-space:nowrap">per </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7437.46px;left:275.7px;white-space:nowrap">share </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7437.46px;left:720.39px;white-space:nowrap">during </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7437.46px;left:1209.61px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7437.46px;left:1476.48px;white-space:nowrap">period</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7437.46px;left:1961.68px;letter-spacing:51.99px;white-space:nowrap">............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7437.46px;left:3919.61px;white-space:nowrap">$2.59</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7437.46px;left:5071.61px;white-space:nowrap">$2.59</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7437.46px;left:6223.61px;white-space:nowrap">$2.59</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7437.46px;left:7375.61px;white-space:nowrap">$2.39</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7437.46px;left:8527.61px;white-space:nowrap">$2.39</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7437.46px;left:9679.61px;white-space:nowrap">$2.39</div></div>
		</div>
		<div style="height:74px;left:36px;position:absolute;top:651px;width:503px">
			<div style="width:10080px;height:1375px;position:absolute;top:1.86px;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">Based</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:18.59px;left:451.06px;white-space:nowrap">on </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:18.59px;left:633.48px;white-space:nowrap">average </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:18.59px;left:1144.1px;white-space:nowrap">daily </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:18.59px;left:1450.43px;white-space:nowrap">shares </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:18.59px;left:1880.74px;white-space:nowrap">outstanding.</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">Amount</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:215.08px;left:531.21px;white-space:nowrap">rounds </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:215.08px;left:968.87px;white-space:nowrap">to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:215.08px;left:1114.81px;white-space:nowrap">less </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:215.08px;left:1384.65px;white-space:nowrap">than </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:215.08px;left:1676.52px;white-space:nowrap">$0.01 </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:215.08px;left:2041.37px;white-space:nowrap">per </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:215.08px;left:2267.46px;white-space:nowrap">share.</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;white-space:nowrap">ye</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:804.53px;left:2960.27px;letter-spacing:-2.4px;white-space:nowrap">ar.</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 style="font-family:Arial, Helvetica, sans-serif;font-size:93.3px;position:absolute;top:1201.72px;left:0px;white-space:nowrap">g</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1197.5px;left:42.54px;text-rendering:optimizeLegibility;white-space:nowrap">Benefit</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1197.5px;left:487.54px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1197.5px;left:633.48px;white-space:nowrap">waiver </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1197.5px;left:1049.02px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1197.5px;left:1304.42px;white-space:nowrap">payments </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1197.5px;left:1909.81px;white-space:nowrap">by </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1197.5px;left:2084.88px;text-rendering:optimizeLegibility;white-space:nowrap">affiliates </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1197.5px;left:2602.77px;white-space:nowrap">rounds </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1197.5px;left:3040.43px;white-space:nowrap">to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1197.5px;left:3186.37px;white-space:nowrap">less </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1197.5px;left:3456.21px;white-space:nowrap">than </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1197.5px;left:3748.09px;white-space:nowrap">0.01%.</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">February </div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:-30.85px;left:4205.2px;white-space:nowrap">28, </div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:-30.85px;left:4638.87px;white-space:nowrap">2021 </div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:-30.85px;left:5289.5px;white-space:nowrap">(unaudited)</div></div>
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			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:3572.9px;white-space:nowrap">The </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:3835.48px;white-space:nowrap">accompanying </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:4718.06px;white-space:nowrap">notes </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:5075.56px;white-space:nowrap">are </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:5301.65px;white-space:nowrap">an </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:5484.08px;white-space:nowrap">integral </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:5950.87px;white-space:nowrap">part </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:6213.45px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:6359.39px;white-space:nowrap">these </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:6716.89px;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:7234.78px;white-space:nowrap">statements.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:8069.08px;white-space:nowrap">Semiannual </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">7</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:80px;position:absolute;top:88.75px;left:0px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:80px;position:absolute;top:88.75px;left:432px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:21.02px;left:6010.72px;white-space:nowrap">Country</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:21.02px;left:7530.33px;white-space:nowrap">Shares</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:80px;position:absolute;top:88.75px;left:8451.51px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:21.02px;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:234.11px;left:0px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;position:absolute;top:234.11px;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:234.11px;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:234.11px;left:8052.88px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;position:absolute;top:234.11px;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:234.11px;left:10068.88px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:307.31px;left:432px;white-space:nowrap">Common </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:307.31px;left:1354.17px;white-space:nowrap">Stocks </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:307.31px;left:2065.59px;white-space:nowrap">38.6%</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:552.23px;left:432px;white-space:nowrap">Electric </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:552.23px;left:1054.58px;white-space:nowrap">Utilities </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:552.23px;left:1676.92px;white-space:nowrap">21.1%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:748.71px;left:432px;white-space:nowrap">Alliant </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:748.71px;left:912.23px;white-space:nowrap">Energy </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:748.71px;left:1463.64px;white-space:nowrap">Corp.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:748.71px;left:1926.61px;letter-spacing:51.33px;white-space:nowrap">...................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:748.71px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:748.71px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:748.71px;left:7574.63px;white-space:nowrap">80,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:748.71px;left:9279.22px;white-space:nowrap">$</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:748.71px;left:9368.2px;white-space:nowrap">3,692,800</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:945.2px;left:432px;white-space:nowrap">American </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:945.2px;left:1152.23px;white-space:nowrap">Electric </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:945.2px;left:1721.22px;white-space:nowrap">Power </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:945.2px;left:2219.19px;white-space:nowrap">Co., </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:945.2px;left:2557.08px;white-space:nowrap">Inc.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:945.2px;left:2860.74px;letter-spacing:52.28px;white-space:nowrap">.........................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:945.2px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:945.2px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:945.2px;left:7574.63px;white-space:nowrap">65,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:945.2px;left:9368.2px;white-space:nowrap">4,865,250</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1141.68px;left:432px;white-space:nowrap">Duke </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1141.68px;left:849.97px;white-space:nowrap">Energy </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1141.68px;left:1401.38px;white-space:nowrap">Corp.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1141.68px;left:1833.2px;letter-spacing:51.26px;white-space:nowrap">....................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1141.68px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1141.68px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1141.68px;left:7574.63px;white-space:nowrap">46,060</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1141.68px;left:9368.2px;white-space:nowrap">3,942,275</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1338.16px;left:432px;white-space:nowrap">Edison </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1338.16px;left:965.67px;white-space:nowrap">International</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1338.16px;left:1926.61px;letter-spacing:51.33px;white-space:nowrap">...................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1338.16px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1338.16px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1338.16px;left:7574.63px;white-space:nowrap">36,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1338.16px;left:9368.2px;white-space:nowrap">1,943,640</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1534.65px;left:432px;white-space:nowrap">Entergy </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1534.65px;left:1027.86px;white-space:nowrap">Corp.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1534.65px;left:1459.54px;letter-spacing:51.03px;white-space:nowrap">........................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1534.65px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1534.65px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1534.65px;left:7574.63px;white-space:nowrap">30,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1534.65px;left:9368.2px;white-space:nowrap">2,604,300</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1731.13px;left:432px;letter-spacing:-1.98px;white-space:nowrap">Evergy</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1731.13px;left:918.09px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1731.13px;left:1007px;white-space:nowrap">Inc.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1731.13px;left:1272.72px;letter-spacing:50.94px;white-space:nowrap">..........................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1731.13px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1731.13px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1731.13px;left:7574.63px;white-space:nowrap">80,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1731.13px;left:9368.2px;white-space:nowrap">4,290,400</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1927.62px;left:432px;white-space:nowrap">Exelon </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1927.62px;left:965.67px;white-space:nowrap">Corp.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1927.62px;left:1366.13px;letter-spacing:50.98px;white-space:nowrap">.........................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1927.62px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1927.62px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1927.62px;left:7574.63px;white-space:nowrap">80,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1927.62px;left:9368.2px;white-space:nowrap">3,088,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2124.1px;left:432px;white-space:nowrap">FirstEnergy </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2124.1px;left:1294.42px;white-space:nowrap">Corp.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2124.1px;left:1739.78px;letter-spacing:51.2px;white-space:nowrap">.....................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2124.1px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2124.1px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2124.1px;left:7574.63px;white-space:nowrap">40,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2124.1px;left:9368.2px;white-space:nowrap">1,325,600</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2320.59px;left:432px;white-space:nowrap">NextEra </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2320.59px;left:1054.42px;letter-spacing:-1.48px;white-space:nowrap">Energy, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2320.59px;left:1638.41px;white-space:nowrap">Inc.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2320.59px;left:1926.61px;letter-spacing:51.33px;white-space:nowrap">...................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2320.59px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2320.59px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2320.59px;left:7485.64px;white-space:nowrap">120,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2320.59px;left:9368.2px;white-space:nowrap">8,817,600</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2517.07px;left:432px;white-space:nowrap">Pinnacle </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2517.07px;left:1090.2px;letter-spacing:-0.58px;white-space:nowrap">West </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2517.07px;left:1496.22px;white-space:nowrap">Capital </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2517.07px;left:2038.72px;white-space:nowrap">Corp.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2517.07px;left:2487.09px;letter-spacing:51.82px;white-space:nowrap">.............................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2517.07px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2517.07px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2517.07px;left:7574.63px;white-space:nowrap">30,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2517.07px;left:9368.2px;white-space:nowrap">2,097,900</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2713.55px;left:432px;letter-spacing:-1.48px;white-space:nowrap">PPL </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2713.55px;left:772.94px;white-space:nowrap">Corp.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2713.55px;left:1179.3px;letter-spacing:50.89px;white-space:nowrap">...........................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2713.55px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2713.55px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2713.55px;left:7574.63px;white-space:nowrap">24,500</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2713.55px;left:9501.64px;white-space:nowrap">641,655</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2910.04px;left:432px;white-space:nowrap">Southern </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2910.04px;left:1125.83px;white-space:nowrap">Co. </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2910.04px;left:1419.27px;white-space:nowrap">(The)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2910.04px;left:1833.2px;letter-spacing:51.26px;white-space:nowrap">....................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2910.04px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2910.04px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2910.04px;left:7574.63px;white-space:nowrap">60,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2910.04px;left:9368.2px;white-space:nowrap">3,403,200</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3106.52px;left:432px;white-space:nowrap">Xcel </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3106.52px;left:787.7px;letter-spacing:-1.48px;white-space:nowrap">Energy, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3106.52px;left:1371.69px;white-space:nowrap">Inc.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3106.52px;left:1646.37px;letter-spacing:51.14px;white-space:nowrap">......................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3106.52px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3106.52px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3106.52px;left:7574.63px;white-space:nowrap">60,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3106.52px;left:9368.2px;white-space:nowrap">3,515,400</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3390.29px;left:9279.22px;white-space:nowrap">44,228,020</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3688.61px;left:432px;white-space:nowrap">Energy </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3688.61px;left:1018.87px;white-space:nowrap">Equipment </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3688.61px;left:1889.97px;white-space:nowrap">&amp; </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3688.61px;left:2049.97px;white-space:nowrap">Services </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3688.61px;left:2752.78px;white-space:nowrap">0.1%</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:3888.31px;left:380.12px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3885.1px;left:432px;letter-spacing:-0.24px;white-space:nowrap">Weatherford </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3885.1px;left:1353.95px;white-space:nowrap">International </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3885.1px;left:2279.03px;white-space:nowrap">plc</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3885.1px;left:2487.09px;letter-spacing:51.82px;white-space:nowrap">.............................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3885.1px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3885.1px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3885.1px;left:7574.63px;white-space:nowrap">16,874</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3885.1px;left:9501.64px;white-space:nowrap">197,426</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4183.42px;left:432px;white-space:nowrap">Machinery </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4183.42px;left:1267.86px;white-space:nowrap">0.2%</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:4383.12px;left:380.12px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4379.91px;left:432px;white-space:nowrap">Birch </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4379.91px;left:840.98px;white-space:nowrap">Permian </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4379.91px;left:1481.22px;white-space:nowrap">Holdings, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4379.91px;left:2192.7px;white-space:nowrap">Inc.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4379.91px;left:2487.09px;letter-spacing:51.82px;white-space:nowrap">.............................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4379.91px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4379.91px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4379.91px;left:7663.61px;white-space:nowrap">3,694</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4379.91px;left:9590.63px;white-space:nowrap">44,328</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:4579.6px;left:380.12px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4576.39px;left:432px;white-space:nowrap">Birch </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4576.39px;left:840.98px;white-space:nowrap">Permian </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4576.39px;left:1481.22px;white-space:nowrap">Holdings, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4576.39px;left:2192.7px;white-space:nowrap">Inc.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4576.39px;left:2487.09px;letter-spacing:51.82px;white-space:nowrap">.............................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4576.39px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4576.39px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4576.39px;left:7574.63px;white-space:nowrap">28,796</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4576.39px;left:9501.64px;white-space:nowrap">341,952</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4860.16px;left:9501.64px;white-space:nowrap">386,280</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5158.48px;left:432px;white-space:nowrap">Metals </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5158.48px;left:974.42px;white-space:nowrap">&amp; </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5158.48px;left:1134.42px;white-space:nowrap">Mining </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5158.48px;left:1694.27px;white-space:nowrap">2.1%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5354.97px;left:432px;letter-spacing:-0.72px;white-space:nowrap">BHP </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5354.97px;left:802.55px;white-space:nowrap">Group </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5354.97px;left:1291.69px;white-space:nowrap">plc, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5354.97px;left:1576.3px;white-space:nowrap">ADR</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5354.97px;left:1926.61px;letter-spacing:51.33px;white-space:nowrap">...................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5354.97px;left:6001.5px;white-space:nowrap">Australia</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5354.97px;left:7574.63px;white-space:nowrap">25,185</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5354.97px;left:9368.2px;white-space:nowrap">1,592,447</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:5554.66px;left:380.12px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5551.45px;left:432px;white-space:nowrap">Freeport-McMoRan, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5551.45px;left:1907.94px;white-space:nowrap">Inc.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5551.45px;left:2206.85px;letter-spacing:51.55px;white-space:nowrap">................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5551.45px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5551.45px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5551.45px;left:7574.63px;white-space:nowrap">80,380</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5551.45px;left:9368.2px;white-space:nowrap">2,725,686</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5747.93px;left:432px;white-space:nowrap">South32 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5747.93px;left:1072.55px;white-space:nowrap">Ltd., </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5747.93px;left:1419.5px;white-space:nowrap">ADR</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5747.93px;left:1833.2px;letter-spacing:51.26px;white-space:nowrap">....................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5747.93px;left:6001.5px;white-space:nowrap">Australia</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5747.93px;left:7574.63px;white-space:nowrap">10,074</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5747.93px;left:9501.64px;white-space:nowrap">107,792</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6031.7px;left:9368.2px;white-space:nowrap">4,425,925</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6330.02px;left:432px;white-space:nowrap">Multi-Utilities </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6330.02px;left:1480.83px;white-space:nowrap">14.2%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6526.51px;left:432px;white-space:nowrap">CenterPoint </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6526.51px;left:1321.38px;letter-spacing:-1.48px;white-space:nowrap">Energy, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6526.51px;left:1905.36px;white-space:nowrap">Inc.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6526.51px;left:2206.85px;letter-spacing:51.55px;white-space:nowrap">................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6526.51px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6526.51px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6526.51px;left:7485.64px;white-space:nowrap">122,800</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6526.51px;left:9368.2px;white-space:nowrap">2,387,232</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6722.99px;left:432px;white-space:nowrap">CMS </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6722.99px;left:832px;white-space:nowrap">Energy </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6722.99px;left:1383.41px;white-space:nowrap">Corp.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6722.99px;left:1833.2px;letter-spacing:51.26px;white-space:nowrap">....................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6722.99px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6722.99px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6722.99px;left:7574.63px;white-space:nowrap">90,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6722.99px;left:9368.2px;white-space:nowrap">4,869,900</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6919.48px;left:432px;white-space:nowrap">Consolidated </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6919.48px;left:1410.44px;white-space:nowrap">Edison, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6919.48px;left:1988.56px;white-space:nowrap">Inc.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6919.48px;left:2300.26px;letter-spacing:51.64px;white-space:nowrap">...............................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6919.48px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6919.48px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6919.48px;left:7574.63px;white-space:nowrap">40,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6919.48px;left:9368.2px;white-space:nowrap">2,626,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7115.96px;left:432px;white-space:nowrap">Dominion </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7115.96px;left:1152.31px;letter-spacing:-1.48px;white-space:nowrap">Energy, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7115.96px;left:1736.3px;white-space:nowrap">Inc.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7115.96px;left:2020.02px;letter-spacing:51.4px;white-space:nowrap">..................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7115.96px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7115.96px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7115.96px;left:7574.63px;white-space:nowrap">67,200</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7115.96px;left:9368.2px;white-space:nowrap">4,591,104</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7312.45px;left:432px;white-space:nowrap">DTE </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7312.45px;left:796.45px;white-space:nowrap">Energy </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7312.45px;left:1347.86px;white-space:nowrap">Co.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7312.45px;left:1646.37px;letter-spacing:51.14px;white-space:nowrap">......................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7312.45px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7312.45px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7312.45px;left:7574.63px;white-space:nowrap">30,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7312.45px;left:9368.2px;white-space:nowrap">3,531,600</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7508.93px;left:432px;white-space:nowrap">NiSource, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7508.93px;left:1178.95px;white-space:nowrap">Inc.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7508.93px;left:1459.54px;letter-spacing:51.03px;white-space:nowrap">........................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7508.93px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7508.93px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7508.93px;left:7574.63px;white-space:nowrap">60,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7508.93px;left:9368.2px;white-space:nowrap">1,296,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7705.42px;left:432px;white-space:nowrap">Public </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7705.42px;left:912.23px;white-space:nowrap">Service </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7705.42px;left:1490.2px;white-space:nowrap">Enterprise </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7705.42px;left:2263.88px;white-space:nowrap">Group, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7705.42px;left:2797.47px;white-space:nowrap">Inc.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7705.42px;left:3140.98px;letter-spacing:52.73px;white-space:nowrap">......................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7705.42px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7705.42px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7705.42px;left:7574.63px;white-space:nowrap">45,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7705.42px;left:9368.2px;white-space:nowrap">2,422,350</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7901.9px;left:432px;white-space:nowrap">Sempra </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7901.9px;left:1036.69px;white-space:nowrap">Energy</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7901.9px;left:1552.96px;letter-spacing:51.09px;white-space:nowrap">.......................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7901.9px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7901.9px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7901.9px;left:7574.63px;white-space:nowrap">45,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7901.9px;left:9368.2px;white-space:nowrap">5,219,100</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8098.38px;left:432px;white-space:nowrap">WEC </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8098.38px;left:849.73px;white-space:nowrap">Energy </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8098.38px;left:1401.14px;white-space:nowrap">Group, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8098.38px;left:1934.73px;white-space:nowrap">Inc.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8098.38px;left:2206.85px;letter-spacing:51.55px;white-space:nowrap">................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8098.38px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8098.38px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8098.38px;left:7574.63px;white-space:nowrap">35,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8098.38px;left:9368.2px;white-space:nowrap">2,822,400</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8382.15px;left:9279.22px;white-space:nowrap">29,765,686</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8680.47px;left:432px;white-space:nowrap">Oil, </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8680.47px;left:734.27px;white-space:nowrap">Gas </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8680.47px;left:1081.14px;white-space:nowrap">&amp; </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8680.47px;left:1241.14px;white-space:nowrap">Consumable </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8680.47px;left:2245.75px;white-space:nowrap">Fuels </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8680.47px;left:2708.09px;white-space:nowrap">0.8%</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:8880.17px;left:380.12px;white-space:nowrap">b</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8876.96px;left:432px;white-space:nowrap">Amplify </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8876.96px;left:1000.98px;white-space:nowrap">Energy </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8876.96px;left:1552.39px;white-space:nowrap">Corp.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8876.96px;left:2020.02px;letter-spacing:51.4px;white-space:nowrap">..................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8876.96px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8876.96px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8876.96px;left:7797.05px;white-space:nowrap">245</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8876.96px;left:9813.05px;white-space:nowrap">715</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:9076.65px;left:302.33px;white-space:nowrap">a,b</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9073.44px;left:432px;white-space:nowrap">California </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9073.44px;left:1152.31px;white-space:nowrap">Resources </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9073.44px;left:1961.53px;white-space:nowrap">Corp.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9073.44px;left:2393.68px;letter-spacing:51.73px;white-space:nowrap">..............................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9073.44px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9073.44px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9073.44px;left:7886.03px;white-space:nowrap">27</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9073.44px;left:9813.05px;white-space:nowrap">710</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:9273.14px;left:380.12px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9269.93px;left:432px;white-space:nowrap">Chesapeake </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9269.93px;left:1374.89px;white-space:nowrap">Energy </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9269.93px;left:1926.3px;white-space:nowrap">Corp.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9269.93px;left:2393.68px;letter-spacing:51.73px;white-space:nowrap">..............................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9269.93px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9269.93px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9269.93px;left:7797.05px;white-space:nowrap">588</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9269.93px;left:9590.63px;white-space:nowrap">25,978</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9466.41px;left:432px;white-space:nowrap">Enbridge, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9466.41px;left:1161.38px;white-space:nowrap">Inc.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9466.41px;left:1459.54px;letter-spacing:51.03px;white-space:nowrap">........................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9466.41px;left:6063.53px;white-space:nowrap">Canada</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9466.41px;left:7574.63px;white-space:nowrap">39,360</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9466.41px;left:9368.2px;white-space:nowrap">1,330,762</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:9666.11px;left:380.12px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9662.9px;left:432px;white-space:nowrap">Goodrich </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9662.9px;left:1125.67px;white-space:nowrap">Petroleum </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9662.9px;left:1899.34px;white-space:nowrap">Corp.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9662.9px;left:2300.26px;letter-spacing:51.64px;white-space:nowrap">...............................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9662.9px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9662.9px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9662.9px;left:7574.63px;white-space:nowrap">19,379</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9662.9px;left:9501.64px;white-space:nowrap">188,170</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:9862.59px;left:307.57px;white-space:nowrap">a,c</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9859.38px;left:432px;white-space:nowrap">Riviera </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9859.38px;left:974.34px;white-space:nowrap">Resources, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9859.38px;left:1828.02px;white-space:nowrap">Inc.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9859.38px;left:2113.44px;letter-spacing:51.47px;white-space:nowrap">.................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9859.38px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9859.38px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9859.38px;left:7663.61px;white-space:nowrap">5,042</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9859.38px;left:9679.61px;white-space:nowrap">1,302</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10143.14px;left:9368.2px;white-space:nowrap">1,547,637</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:10441.47px;left:432px;white-space:nowrap">Paper </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:10441.47px;left:921.14px;white-space:nowrap">&amp; </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:10441.47px;left:1081.14px;white-space:nowrap">Forest </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:10441.47px;left:1614.58px;white-space:nowrap">Products </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:10441.47px;left:2352.47px;white-space:nowrap">0.0%</div><div style="font-family:Arial, sans-serif;font-size:93.3px;font-weight:bold;position:absolute;top:10444.68px;left:2717.16px;white-space:nowrap">&#8224;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10637.95px;left:432px;letter-spacing:-1.47px;white-space:nowrap">Verso </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10637.95px;left:885.59px;white-space:nowrap">Corp., </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10637.95px;left:1356.92px;letter-spacing:-8.83px;white-space:nowrap">A</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10637.95px;left:1459.54px;letter-spacing:51.03px;white-space:nowrap">........................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10637.95px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10637.95px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10637.95px;left:7663.61px;white-space:nowrap">3,330</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10637.95px;left:9590.63px;white-space:nowrap">41,625</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:10936.28px;left:432px;white-space:nowrap">Specialty </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:10936.28px;left:1179.03px;white-space:nowrap">Retail </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:10936.28px;left:1659.19px;white-space:nowrap">0.1%</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:11135.97px;left:380.12px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11132.76px;left:432px;white-space:nowrap">Party </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11132.76px;left:849.89px;white-space:nowrap">City </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11132.76px;left:1169.89px;white-space:nowrap">Holdco, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11132.76px;left:1756.84px;white-space:nowrap">Inc.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11132.76px;left:2020.02px;letter-spacing:51.4px;white-space:nowrap">..................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11132.76px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11132.76px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11132.76px;left:7574.63px;white-space:nowrap">37,652</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11132.76px;left:9501.64px;white-space:nowrap">288,413</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:11411.78px;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:11411.78px;left:950.46px;white-space:nowrap">Common </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:11411.78px;left:1872.63px;white-space:nowrap">Stocks </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:11411.78px;left:2584.05px;white-space:nowrap">(Cost </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:11411.78px;left:3150.65px;white-space:nowrap">$38,181,301)</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:11411.78px;left:4405.52px;letter-spacing:50.79px;white-space:nowrap">......................................</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:11445.65px;left:9279.22px;white-space:nowrap">80,881,012</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: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:80px;position:absolute;top:88.75px;left:0px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:80px;position:absolute;top:88.75px;left:432px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:21.02px;left:6010.72px;white-space:nowrap">Country</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:21.02px;left:7530.33px;white-space:nowrap">Shares</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:80px;position:absolute;top:88.75px;left:8451.51px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:21.02px;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:234.11px;left:0px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;position:absolute;top:234.11px;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:234.11px;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:234.11px;left:8052.88px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;position:absolute;top:234.11px;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:234.11px;left:10068.88px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:307.31px;left:432px;white-space:nowrap">Preferred </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:307.31px;left:1376.92px;white-space:nowrap">Stocks </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:307.31px;left:2088.35px;white-space:nowrap">0.3%</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:552.23px;left:432px;white-space:nowrap">Electric </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:552.23px;left:1054.58px;white-space:nowrap">Utilities </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:552.23px;left:1676.92px;white-space:nowrap">0.3%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:748.71px;left:432px;white-space:nowrap">SCE </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:748.71px;left:802.55px;letter-spacing:-0.99px;white-space:nowrap">Trust </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:748.71px;left:1205.52px;white-space:nowrap">II, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:748.71px;left:1383.33px;white-space:nowrap">5.1%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:748.71px;left:1833.2px;letter-spacing:51.26px;white-space:nowrap">....................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:748.71px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:748.71px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:748.71px;left:7574.63px;white-space:nowrap">27,500</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:748.71px;left:9412.66px;white-space:nowrap">$</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:748.71px;left:9501.64px;white-space:nowrap">662,750</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:1027.73px;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:1027.73px;left:950.46px;white-space:nowrap">Preferred </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:1027.73px;left:1895.38px;white-space:nowrap">Stocks </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:1027.73px;left:2606.8px;white-space:nowrap">(Cost </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:1027.73px;left:3173.41px;white-space:nowrap">$598,125)</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:1027.73px;left:4091.82px;letter-spacing:50.66px;white-space:nowrap">.........................................</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1061.6px;left:9501.64px;white-space:nowrap">662,750</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1426.82px;left:7376.42px;letter-spacing:-0.74px;white-space:nowrap">Warrants</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:1678.6px;left:432px;letter-spacing:-0.57px;white-space:nowrap">Warrants </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:1678.6px;left:1347.04px;white-space:nowrap">0.0%</div><div style="font-family:Arial, sans-serif;font-size:116.6px;font-weight:bold;position:absolute;top:1682.62px;left:1802.9px;white-space:nowrap">&#8224;</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1923.52px;left:432px;white-space:nowrap">Oil, </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1923.52px;left:734.27px;white-space:nowrap">Gas </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1923.52px;left:1081.14px;white-space:nowrap">&amp; </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1923.52px;left:1241.14px;white-space:nowrap">Consumable </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1923.52px;left:2245.75px;white-space:nowrap">Fuels </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1923.52px;left:2708.09px;white-space:nowrap">0.0%</div><div style="font-family:Arial, sans-serif;font-size:93.3px;font-weight:bold;position:absolute;top:1926.73px;left:3072.78px;white-space:nowrap">&#8224;</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:2123.21px;left:307.57px;white-space:nowrap">a,c</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2120px;left:432px;white-space:nowrap">Battalion </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2120px;left:1099.11px;white-space:nowrap">Oil </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2120px;left:1339.11px;white-space:nowrap">Corp., </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2120px;left:1810.44px;white-space:nowrap">A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2120px;left:2006.06px;white-space:nowrap">10/08/22</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2120px;left:2673.91px;letter-spacing:52.03px;white-space:nowrap">...........................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2120px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2120px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2120px;left:7797.05px;white-space:nowrap">583</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2120px;left:9813.05px;white-space:nowrap">806</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:2319.69px;left:307.57px;white-space:nowrap">a,c</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2316.48px;left:432px;white-space:nowrap">Battalion </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2316.48px;left:1099.11px;white-space:nowrap">Oil </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2316.48px;left:1339.11px;white-space:nowrap">Corp., </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2316.48px;left:1819.27px;white-space:nowrap">B, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2316.48px;left:2014.89px;white-space:nowrap">10/08/22</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2316.48px;left:2673.91px;letter-spacing:52.03px;white-space:nowrap">...........................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2316.48px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2316.48px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2316.48px;left:7797.05px;white-space:nowrap">728</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2316.48px;left:9813.05px;white-space:nowrap">800</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:2516.18px;left:307.57px;white-space:nowrap">a,c</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2512.97px;left:432px;white-space:nowrap">Battalion </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2512.97px;left:1099.11px;white-space:nowrap">Oil </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2512.97px;left:1339.11px;white-space:nowrap">Corp., </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2512.97px;left:1819.27px;white-space:nowrap">C, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2512.97px;left:2023.72px;white-space:nowrap">10/08/22</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2512.97px;left:2673.91px;letter-spacing:52.03px;white-space:nowrap">...........................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2512.97px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2512.97px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2512.97px;left:7797.05px;white-space:nowrap">937</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2512.97px;left:9813.05px;white-space:nowrap">759</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:2712.66px;left:380.12px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2709.45px;left:432px;white-space:nowrap">California </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2709.45px;left:1152.31px;white-space:nowrap">Resources </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2709.45px;left:1961.53px;white-space:nowrap">Corp., </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2709.45px;left:2441.69px;white-space:nowrap">10/27/24</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2709.45px;left:3140.98px;letter-spacing:52.73px;white-space:nowrap">......................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2709.45px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2709.45px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2709.45px;left:7886.03px;white-space:nowrap">64</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2709.45px;left:9813.05px;white-space:nowrap">316</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:2909.15px;left:380.12px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2905.94px;left:432px;white-space:nowrap">Chesapeake </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2905.94px;left:1374.89px;white-space:nowrap">Energy </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2905.94px;left:1926.3px;white-space:nowrap">Corp., </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2905.94px;left:2406.45px;white-space:nowrap">2/09/26</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2905.94px;left:2954.15px;letter-spacing:52.42px;white-space:nowrap">........................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2905.94px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2905.94px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2905.94px;left:7663.61px;white-space:nowrap">1,109</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2905.94px;left:9590.63px;white-space:nowrap">19,352</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3189.7px;left:9590.63px;white-space:nowrap">22,033</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3488.03px;left:432px;white-space:nowrap">Paper </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3488.03px;left:921.14px;white-space:nowrap">&amp; </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3488.03px;left:1081.14px;white-space:nowrap">Forest </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3488.03px;left:1614.58px;white-space:nowrap">Products </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3488.03px;left:2352.47px;white-space:nowrap">0.0%</div><div style="font-family:Arial, sans-serif;font-size:93.3px;font-weight:bold;position:absolute;top:3491.24px;left:2717.16px;white-space:nowrap">&#8224;</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:3687.72px;left:380.12px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3684.51px;left:432px;letter-spacing:-1.47px;white-space:nowrap">Verso </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3684.51px;left:885.59px;white-space:nowrap">Corp., </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3684.51px;left:1365.75px;white-space:nowrap">7/25/23</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3684.51px;left:1926.61px;letter-spacing:51.33px;white-space:nowrap">...................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3684.51px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3684.51px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3684.51px;left:7797.05px;white-space:nowrap">350</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3684.51px;left:9813.05px;white-space:nowrap">403</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:3963.53px;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:3963.53px;left:950.46px;letter-spacing:-0.82px;white-space:nowrap">Warrants </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:3963.53px;left:1865.5px;white-space:nowrap">(Cost </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:3963.53px;left:2432.1px;white-space:nowrap">$602,518)</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:3963.53px;left:3359.86px;letter-spacing:50.42px;white-space:nowrap">................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3997.4px;left:9590.63px;white-space:nowrap">22,436</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4362.62px;left:7388.22px;white-space:nowrap">Principal </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4554.62px;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:4557.83px;left:8027.7px;white-space:nowrap">*</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:4806.4px;left:432px;white-space:nowrap">Convertible </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:4806.4px;left:1587.76px;white-space:nowrap">Bonds </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:4806.4px;left:2265.5px;white-space:nowrap">0.0%</div><div style="font-family:Arial, sans-serif;font-size:116.6px;font-weight:bold;position:absolute;top:4810.42px;left:2721.36px;white-space:nowrap">&#8224;</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5051.32px;left:432px;letter-spacing:-0.16px;white-space:nowrap">Wireless </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5051.32px;left:1133.17px;letter-spacing:-0.66px;white-space:nowrap">Telecommunication </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5051.32px;left:2668.25px;white-space:nowrap">Services </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5051.32px;left:3371.06px;white-space:nowrap">0.0%</div><div style="font-family:Arial, sans-serif;font-size:93.3px;font-weight:bold;position:absolute;top:5054.53px;left:3735.75px;white-space:nowrap">&#8224;</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:5251.01px;left:250.5px;white-space:nowrap">d,e,f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5247.8px;left:432px;white-space:nowrap">Digicel</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5247.8px;left:956.61px;white-space:nowrap">Group </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5247.8px;left:1445.75px;white-space:nowrap">0.5 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5247.8px;left:1712.63px;white-space:nowrap">Ltd.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5247.8px;left:1979.5px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5247.8px;left:2068.41px;white-space:nowrap">Sub. </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5247.8px;left:2442px;white-space:nowrap">Bond</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5247.8px;left:2815.67px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5247.8px;left:2904.58px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5247.8px;left:3367.16px;white-space:nowrap">PIK, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5247.8px;left:3713.95px;white-space:nowrap">7</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5247.8px;left:3802.94px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5247.8px;left:3945.2px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5247.8px;left:4034.11px;white-space:nowrap">Perpetual</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5247.8px;left:4729px;letter-spacing:65.55px;white-space:nowrap">.....</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5247.8px;left:5974.78px;white-space:nowrap">Bermuda</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5247.8px;left:7574.63px;white-space:nowrap">23,602</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5247.8px;left:9590.63px;white-space:nowrap">14,943</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:5526.82px;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:5526.82px;left:950.46px;white-space:nowrap">Convertible </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:5526.82px;left:2106.22px;white-space:nowrap">Bonds</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:5526.82px;left:2783.95px;white-space:nowrap">(Cost </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:5526.82px;left:3350.55px;white-space:nowrap">$4,272)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:200px;position:absolute;top:5526.82px;left:4091.82px;letter-spacing:50.66px;white-space:nowrap">.........................................</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5560.69px;left:9590.63px;white-space:nowrap">14,943</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:5921.16px;left:432px;white-space:nowrap">Corporate </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:5921.16px;left:1443.23px;white-space:nowrap">Bonds </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:5921.16px;left:2120.96px;white-space:nowrap">86.4%</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6166.07px;left:432px;white-space:nowrap">Aerospace </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6166.07px;left:1294.66px;white-space:nowrap">&amp; </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6166.07px;left:1454.66px;white-space:nowrap">Defense </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6166.07px;left:2121.61px;white-space:nowrap">0.5%</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:6365.77px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6362.56px;left:432px;white-space:nowrap">BWX </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6362.56px;left:838.02px;letter-spacing:-1.27px;white-space:nowrap">Technologies, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6362.56px;left:1860.91px;white-space:nowrap">Inc.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6362.56px;left:2118.8px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6362.56px;left:2207.7px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6362.56px;left:2714.66px;white-space:nowrap">Note</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6362.56px;left:3052.63px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6362.56px;left:3141.53px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6362.56px;left:3604.11px;white-space:nowrap">5.375</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6362.56px;left:4004.5px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6362.56px;left:4146.77px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6362.56px;left:4235.67px;white-space:nowrap">7/15/26</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6362.56px;left:4822.42px;letter-spacing:69.7px;white-space:nowrap">....</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6362.56px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6362.56px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6362.56px;left:7485.64px;white-space:nowrap">600,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6362.56px;left:9501.64px;white-space:nowrap">623,136</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:6562.25px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6559.04px;left:432px;white-space:nowrap">Signature </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6559.04px;left:1152.55px;letter-spacing:-0.32px;white-space:nowrap">Aviation </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6559.04px;left:1763.33px;white-space:nowrap">US </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6559.04px;left:2030.05px;white-space:nowrap">Holdings, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6559.04px;left:2741.53px;white-space:nowrap">Inc.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6559.04px;left:2999.42px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6559.04px;left:3088.33px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6559.04px;left:3595.28px;white-space:nowrap">Note</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6559.04px;left:3933.25px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6559.04px;left:4022.16px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6559.04px;left:4484.73px;white-space:nowrap">5.375</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6559.04px;left:4885.13px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6559.04px;left:5027.39px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6751.04px;left:576px;white-space:nowrap">5/01/26</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6751.04px;left:1179.3px;letter-spacing:50.89px;white-space:nowrap">...........................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6751.04px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6751.04px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6751.04px;left:7485.64px;white-space:nowrap">500,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6751.04px;left:9501.64px;white-space:nowrap">512,500</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7034.81px;left:9368.2px;white-space:nowrap">1,135,636</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:7333.13px;left:432px;white-space:nowrap">Air </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:7333.13px;left:698.72px;white-space:nowrap">Freight </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:7333.13px;left:1285.36px;white-space:nowrap">&amp; </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:7333.13px;left:1445.36px;white-space:nowrap">Logistics </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:7333.13px;left:2192.16px;white-space:nowrap">0.7%</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:7532.83px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7544.18px;left:432px;white-space:nowrap">DAE </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7544.18px;left:805.44px;white-space:nowrap">Funding </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7544.18px;left:1428.09px;white-space:nowrap">LLC</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7544.18px;left:1721.61px;white-space:nowrap">,</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7740.66px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7740.66px;left:1082.95px;white-space:nowrap">Note, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7740.66px;left:1509.83px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7740.66px;left:1972.41px;white-space:nowrap">4.5%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7740.66px;left:2426px;white-space:nowrap">8/01/22 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7740.66px;left:3047.57px;letter-spacing:52.57px;white-space:nowrap">.......................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7740.66px;left:5787.91px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7740.66px;left:6286.03px;white-space:nowrap">Arab </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7932.66px;left:5992.75px;white-space:nowrap">Emirates</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7932.66px;left:7485.64px;white-space:nowrap">700,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7932.66px;left:9501.64px;white-space:nowrap">705,250</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8129.15px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8129.15px;left:1082.95px;white-space:nowrap">Note, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8129.15px;left:1509.83px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8129.15px;left:1972.41px;white-space:nowrap">5%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8129.15px;left:2292.56px;white-space:nowrap">8/01/24 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8129.15px;left:2954.15px;letter-spacing:52.42px;white-space:nowrap">........................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8129.15px;left:5787.91px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8129.15px;left:6286.03px;white-space:nowrap">Arab </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8321.15px;left:5992.75px;white-space:nowrap">Emirates</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8321.15px;left:7485.64px;white-space:nowrap">700,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8321.15px;left:9501.64px;white-space:nowrap">724,062</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8604.91px;left:9368.2px;white-space:nowrap">1,429,312</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8903.24px;left:432px;white-space:nowrap">Airlines </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8903.24px;left:1063.33px;white-space:nowrap">0.8%</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:9102.93px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9099.72px;left:432px;white-space:nowrap">Delta </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9099.72px;left:841.14px;white-space:nowrap">Air </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9099.72px;left:1081.14px;white-space:nowrap">Lines, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9099.72px;left:1552.55px;white-space:nowrap">Inc. </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9099.72px;left:1854.89px;white-space:nowrap">/ </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9099.72px;left:1943.8px;white-space:nowrap">SkyMiles</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9099.72px;left:2628.33px;letter-spacing:-0.96px;white-space:nowrap">IP </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9099.72px;left:2821.06px;white-space:nowrap">Ltd.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9099.72px;left:3087.94px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9099.72px;left:3176.84px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9099.72px;left:3683.8px;white-space:nowrap">Secured </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9099.72px;left:4324.19px;white-space:nowrap">Note</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9099.72px;left:4662.16px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9099.72px;left:4751.06px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9291.72px;left:576px;white-space:nowrap">4.75</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9291.72px;left:887.41px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9291.72px;left:1029.67px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9291.72px;left:1118.58px;white-space:nowrap">10/20/28</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9291.72px;left:1741.39px;letter-spacing:51.2px;white-space:nowrap">.....................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9291.72px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9291.72px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9291.72px;left:7352.2px;white-space:nowrap">1,000,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9291.72px;left:9391.95px;letter-spacing:-2.64px;white-space:nowrap">1,111,042</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:9491.41px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9488.2px;left:432px;white-space:nowrap">Mileage </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9488.2px;left:1036.77px;white-space:nowrap">Plus </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9488.2px;left:1392.47px;white-space:nowrap">Holdings </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9488.2px;left:2059.5px;white-space:nowrap">LLC </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9488.2px;left:2397.47px;white-space:nowrap">/ </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9488.2px;left:2486.38px;white-space:nowrap">Mileage </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9488.2px;left:3091.14px;white-space:nowrap">Plus </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9488.2px;left:3446.84px;white-space:nowrap">Intellectual </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9488.2px;left:4256.22px;white-space:nowrap">Property </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9680.2px;left:576px;white-space:nowrap">Assets </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9680.2px;left:1100.61px;white-space:nowrap">Ltd.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9680.2px;left:1367.48px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9680.2px;left:1456.39px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9680.2px;left:1963.34px;white-space:nowrap">Secured </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9680.2px;left:2603.73px;white-space:nowrap">Note</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9680.2px;left:2941.7px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9680.2px;left:3030.61px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9680.2px;left:3493.19px;white-space:nowrap">6.5</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9680.2px;left:3715.61px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9680.2px;left:3857.88px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9680.2px;left:3946.78px;white-space:nowrap">6/20/27</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9680.2px;left:4542.18px;letter-spacing:60.81px;white-space:nowrap">.......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9680.2px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9680.2px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9680.2px;left:7485.64px;white-space:nowrap">500,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9680.2px;left:9501.64px;white-space:nowrap">546,875</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9963.97px;left:9368.2px;white-space:nowrap">1,657,917</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:10262.29px;left:432px;white-space:nowrap">Auto </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:10262.29px;left:840.75px;white-space:nowrap">Components </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:10262.29px;left:1862.94px;white-space:nowrap">3.3%</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:10461.99px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10458.78px;left:432px;white-space:nowrap">Adient</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10458.78px;left:930.13px;white-space:nowrap">US </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10458.78px;left:1196.84px;white-space:nowrap">LLC</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10458.78px;left:1490.36px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10458.78px;left:1579.27px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10458.78px;left:2086.22px;white-space:nowrap">Secured </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10458.78px;left:2726.61px;white-space:nowrap">Note</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10458.78px;left:3064.58px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10458.78px;left:3153.48px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10458.78px;left:3616.06px;white-space:nowrap">7</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10458.78px;left:3705.05px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10458.78px;left:3847.31px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10458.78px;left:3936.22px;white-space:nowrap">5/15/26</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10458.78px;left:4542.18px;letter-spacing:60.81px;white-space:nowrap">.......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10458.78px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10458.78px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10458.78px;left:7352.2px;white-space:nowrap">1,900,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10458.78px;left:9368.2px;white-space:nowrap">2,048,200</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:10658.47px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10669.82px;left:432px;white-space:nowrap">Allison </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10669.82px;left:944.89px;letter-spacing:-0.42px;white-space:nowrap">Transmission, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10669.82px;left:1979.19px;white-space:nowrap">Inc.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10669.82px;left:2237.08px;white-space:nowrap">,</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10866.31px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10866.31px;left:1082.95px;white-space:nowrap">Bond, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10866.31px;left:1545.53px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10866.31px;left:2008.11px;white-space:nowrap">3.75%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10866.31px;left:2550.69px;white-space:nowrap">1/30/31 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10866.31px;left:3140.98px;letter-spacing:52.73px;white-space:nowrap">......................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10866.31px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10866.31px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10866.31px;left:7485.64px;white-space:nowrap">700,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10866.31px;left:9501.64px;white-space:nowrap">670,687</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11062.79px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11062.79px;left:1082.95px;white-space:nowrap">Note, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11062.79px;left:1509.83px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11062.79px;left:1972.41px;white-space:nowrap">4.75%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11062.79px;left:2514.98px;white-space:nowrap">10/01/27 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11062.79px;left:3234.39px;letter-spacing:52.91px;white-space:nowrap">.....................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11062.79px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11062.79px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11062.79px;left:7485.64px;white-space:nowrap">600,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11062.79px;left:9501.64px;white-space:nowrap">621,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11259.28px;left:432px;white-space:nowrap">Dana, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11259.28px;left:903.41px;white-space:nowrap">Inc.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11259.28px;left:1161.3px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11259.28px;left:1250.2px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11259.28px;left:1757.16px;white-space:nowrap">Note</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11259.28px;left:2095.13px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11259.28px;left:2184.03px;white-space:nowrap">5.625</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11259.28px;left:2584.42px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11259.28px;left:2726.69px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11259.28px;left:2815.59px;white-space:nowrap">6/15/28</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11259.28px;left:3421.22px;letter-spacing:53.33px;white-space:nowrap">...................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11273.84px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11273.84px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11273.84px;left:7352.2px;white-space:nowrap">1,400,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11273.84px;left:9368.2px;white-space:nowrap">1,488,039</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11470.32px;left:432px;white-space:nowrap">Goodyear </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11470.32px;left:1176.22px;letter-spacing:-1.19px;white-space:nowrap">Tire </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11470.32px;left:1490.28px;white-space:nowrap">&amp; </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11470.32px;left:1641.45px;white-space:nowrap">Rubber </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11470.32px;left:2210.67px;white-space:nowrap">Co. </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11470.32px;left:2504.11px;white-space:nowrap">(The)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11470.32px;left:2886.38px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11470.32px;left:2975.28px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11470.32px;left:3482.23px;white-space:nowrap">Note</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11470.32px;left:3820.2px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11470.32px;left:3909.11px;white-space:nowrap">9.5</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11470.32px;left:4131.53px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11470.32px;left:4273.8px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11470.32px;left:4362.7px;white-space:nowrap">5/31/25</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11470.32px;left:4915.83px;letter-spacing:76.62px;white-space:nowrap">...</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11484.88px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11484.88px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11484.88px;left:7352.2px;white-space:nowrap">1,000,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11484.88px;left:9368.2px;white-space:nowrap">1,121,880</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:11684.58px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11681.37px;left:432px;white-space:nowrap">Real </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11681.37px;left:805.52px;white-space:nowrap">Hero </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11681.37px;left:1196.77px;white-space:nowrap">Merger </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11681.37px;left:1748.02px;white-space:nowrap">Sub </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11681.37px;left:2077.16px;white-space:nowrap">2, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11681.37px;left:2255.05px;white-space:nowrap">Inc.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11681.37px;left:2512.94px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11681.37px;left:2601.84px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11681.37px;left:3108.8px;white-space:nowrap">Note</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11681.37px;left:3446.77px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11681.37px;left:3535.67px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11681.37px;left:3998.25px;white-space:nowrap">6.25</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11681.37px;left:4309.66px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11681.37px;left:4451.92px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11681.37px;left:4540.83px;white-space:nowrap">2/01/29</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11681.37px;left:5102.66px;letter-spacing:131.93px;white-space:nowrap">.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11681.37px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11681.37px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11681.37px;left:7352.2px;white-space:nowrap">1,000,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11681.37px;left:9368.2px;white-space:nowrap">1,031,250</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11965.13px;left:9368.2px;white-space:nowrap">6,981,056</div></div>
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			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:3572.9px;white-space:nowrap">The </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:3835.48px;white-space:nowrap">accompanying </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:4718.06px;white-space:nowrap">notes </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:5075.56px;white-space:nowrap">are </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:5301.65px;white-space:nowrap">an </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:5484.08px;white-space:nowrap">integral </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:5950.87px;white-space:nowrap">part </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:6213.45px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:6359.39px;white-space:nowrap">these </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:6716.89px;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:7234.78px;white-space:nowrap">statements.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:8069.08px;white-space:nowrap">Semiannual </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:644.15px;white-space:nowrap">9</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,iVBORw0KGgoAAAANSUhEUgAABBoAAAUDCAYAAABvckO4AAAACXBIWXMAABcRAAAXEQHKJvM/AAAfqUlEQVR4XuzbsY0cSRREwTVtTRszShxP5/oseEmA6GWTIURJT0zpA/X1+Xy+AAAAAH6HDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKuvc87rgd5DAwD8Hd5Dw7/pPTTwq95D86d5Dw3c5ut6PgAAAAC/w/+HhrxG/IHeQwMA/B3eQ8O/6T008KveQ/OneQ8N3Cb/VgAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAMAznXNelw/cKYcJAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAz3TO+b684E45TAAAAJ7pODTwA3KYAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAPNM55/vygjvlMAEAAHim49DAD8hhAgAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAM90znldPnCnHCYAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAK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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:80px;position:absolute;top:280.75px;left:0px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:80px;position:absolute;top:280.75px;left:432px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:213.02px;left:6010.72px;white-space:nowrap">Country</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:80px;position:absolute;top:280.75px;left:8451.51px;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">Corporate </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:499.31px;left:1443.23px;white-space:nowrap">Bonds </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:533.18px;left:2120.96px;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">Banks </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:744.23px;left:956.69px;white-space:nowrap">0.5%</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:943.92px;left:380.12px;white-space:nowrap">e</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:940.71px;left:432px;white-space:nowrap">JPMorgan </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:940.71px;left:1205.67px;white-space:nowrap">Chase </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:940.71px;left:1712.63px;white-space:nowrap">&amp; </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:940.71px;left:1863.8px;white-space:nowrap">Co.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:940.71px;left:2112.78px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:940.71px;left:2201.69px;white-space:nowrap">R</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:940.71px;left:2317.23px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:940.71px;left:2406.14px;white-space:nowrap">Junior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:940.71px;left:2886.38px;white-space:nowrap">Sub. </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:940.71px;left:3259.97px;white-space:nowrap">Bond</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:940.71px;left:3633.64px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:940.71px;left:3722.55px;white-space:nowrap">6% </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:940.71px;left:3998.25px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:940.71px;left:4176.14px;white-space:nowrap">8/01/23, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:940.71px;left:4798.88px;white-space:nowrap">FRN </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1132.71px;left:576px;letter-spacing:-0.88px;white-space:nowrap">thereafter</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1132.71px;left:1252.02px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1132.71px;left:1340.92px;white-space:nowrap">Perpetual</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1132.71px;left:2113.44px;letter-spacing:51.47px;white-space:nowrap">.................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1132.71px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1132.71px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1132.71px;left:7485.64px;white-space:nowrap">900,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1132.71px;left:9412.66px;white-space:nowrap">$</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1132.71px;left:9501.64px;white-space:nowrap">953,224</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1431.04px;left:432px;white-space:nowrap">Biotechnology </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1431.04px;left:1587.55px;white-space:nowrap">0.4%</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:1630.73px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1627.52px;left:432px;white-space:nowrap">Emergent </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1627.52px;left:1170.13px;white-space:nowrap">BioSolutions</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1627.52px;left:2059.58px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1627.52px;left:2148.48px;white-space:nowrap">Inc.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1627.52px;left:2406.38px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1627.52px;left:2495.28px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1627.52px;left:3002.23px;white-space:nowrap">Note</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1627.52px;left:3340.2px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1627.52px;left:3429.11px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1627.52px;left:3891.69px;white-space:nowrap">3.875</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1627.52px;left:4292.08px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1627.52px;left:4434.34px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1627.52px;left:4523.25px;white-space:nowrap">8/15/28</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1627.52px;left:5102.66px;letter-spacing:131.93px;white-space:nowrap">.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1627.52px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1627.52px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1627.52px;left:7485.64px;white-space:nowrap">900,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1627.52px;left:9501.64px;white-space:nowrap">914,341</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1925.85px;left:432px;white-space:nowrap">Building </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1925.85px;left:1116.3px;white-space:nowrap">Products </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1925.85px;left:1854.19px;white-space:nowrap">1.5%</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:2125.54px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2136.89px;left:432px;white-space:nowrap">Cornerstone </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2136.89px;left:1356.92px;white-space:nowrap">Building </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2136.89px;left:1970.67px;white-space:nowrap">Brands, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2136.89px;left:2566.53px;white-space:nowrap">Inc.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2136.89px;left:2824.42px;white-space:nowrap">,</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2333.38px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2333.38px;left:1082.95px;white-space:nowrap">Note, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2333.38px;left:1509.83px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2333.38px;left:1972.41px;white-space:nowrap">8%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2333.38px;left:2292.56px;white-space:nowrap">4/15/26 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2333.38px;left:2954.15px;letter-spacing:52.42px;white-space:nowrap">........................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2333.38px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2333.38px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2333.38px;left:7485.64px;white-space:nowrap">900,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2333.38px;left:9501.64px;white-space:nowrap">935,442</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2529.86px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2529.86px;left:1082.95px;white-space:nowrap">Note, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2529.86px;left:1509.83px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2529.86px;left:1972.41px;white-space:nowrap">6.125%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2529.86px;left:2603.97px;white-space:nowrap">1/15/29 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2529.86px;left:3234.39px;letter-spacing:52.91px;white-space:nowrap">.....................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2529.86px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2529.86px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2529.86px;left:7485.64px;white-space:nowrap">500,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2529.86px;left:9501.64px;white-space:nowrap">513,437</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:2729.55px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2740.9px;left:432px;white-space:nowrap">JELD-WEN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2740.9px;left:1338.72px;white-space:nowrap">Inc.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2740.9px;left:1596.61px;white-space:nowrap">,</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2937.39px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2937.39px;left:1082.95px;white-space:nowrap">Note, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2937.39px;left:1509.83px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2937.39px;left:1972.41px;white-space:nowrap">4.625%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2937.39px;left:2603.97px;white-space:nowrap">12/15/25 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2937.39px;left:3327.81px;letter-spacing:53.11px;white-space:nowrap">....................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2937.39px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2937.39px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2937.39px;left:7485.64px;white-space:nowrap">300,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2937.39px;left:9501.64px;white-space:nowrap">304,093</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3133.87px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3133.87px;left:1082.95px;white-space:nowrap">Note, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3133.87px;left:1509.83px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3133.87px;left:1972.41px;white-space:nowrap">4.875%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3133.87px;left:2603.97px;white-space:nowrap">12/15/27 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3133.87px;left:3327.81px;letter-spacing:53.11px;white-space:nowrap">....................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3133.87px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3133.87px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3133.87px;left:7485.64px;white-space:nowrap">300,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3133.87px;left:9501.64px;white-space:nowrap">312,180</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:3333.57px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3330.36px;left:432px;white-space:nowrap">Standard </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3330.36px;left:1125.83px;white-space:nowrap">Industries, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3330.36px;left:1908.41px;white-space:nowrap">Inc.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3330.36px;left:2166.3px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3330.36px;left:2255.2px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3330.36px;left:2762.16px;white-space:nowrap">Note</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3330.36px;left:3100.13px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3330.36px;left:3189.03px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3330.36px;left:3651.61px;white-space:nowrap">5</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3330.36px;left:3740.59px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3330.36px;left:3882.86px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3330.36px;left:3971.77px;white-space:nowrap">2/15/27</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3330.36px;left:4542.18px;letter-spacing:60.81px;white-space:nowrap">.......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3330.36px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3330.36px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3330.36px;left:7485.64px;white-space:nowrap">300,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3330.36px;left:9501.64px;white-space:nowrap">310,313</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:3530.05px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3526.84px;left:432px;white-space:nowrap">Summit </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3526.84px;left:1018.72px;white-space:nowrap">Materials </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3526.84px;left:1712.23px;white-space:nowrap">LLC </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3526.84px;left:2050.2px;white-space:nowrap">/ </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3526.84px;left:2139.11px;white-space:nowrap">Summit </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3526.84px;left:2725.83px;white-space:nowrap">Materials </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3526.84px;left:3419.34px;white-space:nowrap">Finance </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3526.84px;left:4033.02px;white-space:nowrap">Corp.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3526.84px;left:4424.27px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3526.84px;left:4513.17px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3718.84px;left:576px;white-space:nowrap">Note</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3718.84px;left:913.97px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3718.84px;left:1002.88px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3718.84px;left:1465.45px;white-space:nowrap">5.25</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3718.84px;left:1776.86px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3718.84px;left:1919.13px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3718.84px;left:2008.03px;white-space:nowrap">1/15/29</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3718.84px;left:2580.5px;letter-spacing:51.92px;white-space:nowrap">............................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3718.84px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3718.84px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3718.84px;left:7485.64px;white-space:nowrap">800,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3718.84px;left:9501.64px;white-space:nowrap">850,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4002.61px;left:9368.2px;white-space:nowrap">3,225,465</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4300.93px;left:432px;white-space:nowrap">Chemicals </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4300.93px;left:1276.84px;white-space:nowrap">2.4%</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:4500.63px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4497.42px;left:432px;white-space:nowrap">Axalta </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4497.42px;left:921.14px;white-space:nowrap">Coating </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4497.42px;left:1517.08px;white-space:nowrap">Systems </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4497.42px;left:2174.97px;white-space:nowrap">LLC</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4497.42px;left:2468.48px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4497.42px;left:2557.39px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4497.42px;left:3064.34px;white-space:nowrap">Note</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4497.42px;left:3402.31px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4497.42px;left:3491.22px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4497.42px;left:3953.8px;white-space:nowrap">3.375</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4497.42px;left:4354.19px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4497.42px;left:4496.45px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4497.42px;left:4585.36px;white-space:nowrap">2/15/29</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4497.42px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4497.42px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4497.42px;left:7485.64px;white-space:nowrap">600,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4497.42px;left:9501.64px;white-space:nowrap">583,125</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:4697.11px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4693.9px;left:432px;white-space:nowrap">Element </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4693.9px;left:1063.41px;white-space:nowrap">Solutions, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4693.9px;left:1810.52px;white-space:nowrap">Inc.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4693.9px;left:2068.41px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4693.9px;left:2157.31px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4693.9px;left:2664.27px;white-space:nowrap">Note</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4693.9px;left:3002.23px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4693.9px;left:3091.14px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4693.9px;left:3553.72px;white-space:nowrap">3.875</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4693.9px;left:3954.11px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4693.9px;left:4096.38px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4693.9px;left:4185.28px;white-space:nowrap">9/01/28</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4693.9px;left:4729px;letter-spacing:65.55px;white-space:nowrap">.....</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4693.9px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4693.9px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4693.9px;left:7485.64px;white-space:nowrap">700,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4693.9px;left:9501.64px;white-space:nowrap">700,507</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:4893.6px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4890.38px;left:432px;white-space:nowrap">GPD </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4890.38px;left:823.17px;white-space:nowrap">Cos., </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4890.38px;left:1241.06px;white-space:nowrap">Inc.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4890.38px;left:1498.95px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4890.38px;left:1587.86px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4890.38px;left:2094.81px;white-space:nowrap">Secured </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4890.38px;left:2735.2px;white-space:nowrap">Note</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4890.38px;left:3073.17px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4890.38px;left:3162.08px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4890.38px;left:3624.66px;white-space:nowrap">10.125</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4890.38px;left:4114.03px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4890.38px;left:4256.3px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4890.38px;left:4345.2px;white-space:nowrap">4/01/26</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4890.38px;left:4915.83px;letter-spacing:76.62px;white-space:nowrap">...</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4890.38px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4890.38px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4890.38px;left:7352.2px;white-space:nowrap">1,500,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4890.38px;left:9368.2px;white-space:nowrap">1,663,125</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:5090.08px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5086.87px;left:432px;white-space:nowrap">Illuminate </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5086.87px;left:1161.22px;white-space:nowrap">Buyer </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5086.87px;left:1623.64px;white-space:nowrap">LLC </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5086.87px;left:1961.61px;white-space:nowrap">/ </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5086.87px;left:2050.52px;white-space:nowrap">Illuminate </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5086.87px;left:2779.73px;white-space:nowrap">Holdings </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5086.87px;left:3446.77px;letter-spacing:-3.67px;white-space:nowrap">IV, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5086.87px;left:3672.16px;white-space:nowrap">Inc.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5086.87px;left:3930.05px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5086.87px;left:4018.95px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5086.87px;left:4525.91px;white-space:nowrap">Note</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5086.87px;left:4863.88px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5278.87px;left:576px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5278.87px;left:1038.58px;white-space:nowrap">9</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5278.87px;left:1127.56px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5278.87px;left:1269.83px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5278.87px;left:1358.73px;white-space:nowrap">7/01/28</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5278.87px;left:1926.61px;letter-spacing:51.33px;white-space:nowrap">...................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5278.87px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5278.87px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5278.87px;left:7352.2px;white-space:nowrap">1,000,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5278.87px;left:9380.08px;letter-spacing:-1.32px;white-space:nowrap">1,113,750</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:5478.56px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5475.35px;left:432px;white-space:nowrap">Ingevity</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5475.35px;left:1027.86px;white-space:nowrap">Corp.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5475.35px;left:1419.11px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5475.35px;left:1508.02px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5475.35px;left:2014.97px;white-space:nowrap">Note</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5475.35px;left:2352.94px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5475.35px;left:2441.84px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5475.35px;left:2904.42px;white-space:nowrap">3.875</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5475.35px;left:3304.81px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5475.35px;left:3447.08px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5475.35px;left:3535.98px;letter-spacing:-1.48px;white-space:nowrap">11/01/28</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5475.35px;left:4168.52px;letter-spacing:56.5px;white-space:nowrap">...........</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5475.35px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5475.35px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5475.35px;left:7485.64px;white-space:nowrap">400,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5475.35px;left:9501.64px;white-space:nowrap">396,752</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:5675.05px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5671.84px;left:432px;white-space:nowrap">Rain </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5671.84px;left:805.52px;white-space:nowrap">CII </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5671.84px;left:1054.42px;white-space:nowrap">Carbon </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5671.84px;left:1623.64px;white-space:nowrap">LLC </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5671.84px;left:1961.61px;white-space:nowrap">/ </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5671.84px;left:2050.52px;white-space:nowrap">CII </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5671.84px;left:2299.42px;white-space:nowrap">Carbon </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5671.84px;left:2868.64px;white-space:nowrap">Corp.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5671.84px;left:3259.89px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5671.84px;left:3348.8px;white-space:nowrap">Secured </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5671.84px;left:3989.19px;white-space:nowrap">Note</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5671.84px;left:4327.16px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5671.84px;left:4416.06px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5863.84px;left:576px;white-space:nowrap">7.25</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5863.84px;left:887.41px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5863.84px;left:1029.67px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5863.84px;left:1118.58px;white-space:nowrap">4/01/25</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5863.84px;left:1739.78px;letter-spacing:51.2px;white-space:nowrap">.....................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5863.84px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5863.84px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5863.84px;left:7485.64px;white-space:nowrap">600,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5863.84px;left:9501.64px;white-space:nowrap">615,897</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6147.6px;left:9368.2px;white-space:nowrap">5,073,156</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6445.93px;left:432px;white-space:nowrap">Commercial </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6445.93px;left:1392.39px;white-space:nowrap">Services </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6445.93px;left:2095.2px;white-space:nowrap">&amp; </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6445.93px;left:2255.2px;white-space:nowrap">Supplies </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6445.93px;left:2966.45px;white-space:nowrap">1.6%</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:6645.62px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6642.41px;left:432px;white-space:nowrap">Harsco </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6642.41px;left:983.25px;white-space:nowrap">Corp.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6642.41px;left:1374.5px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6642.41px;left:1463.41px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6642.41px;left:1970.36px;white-space:nowrap">Note</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6642.41px;left:2308.33px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6642.41px;left:2397.23px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6642.41px;left:2859.81px;white-space:nowrap">5.75</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6642.41px;left:3171.22px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6642.41px;left:3313.48px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6642.41px;left:3402.39px;white-space:nowrap">7/31/27</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6642.41px;left:3981.7px;letter-spacing:55.34px;white-space:nowrap">.............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6642.41px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6642.41px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6642.41px;left:7352.2px;white-space:nowrap">1,500,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6642.41px;left:9368.2px;white-space:nowrap">1,566,563</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:6842.11px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6838.9px;left:432px;white-space:nowrap">Prime </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6838.9px;left:894.27px;white-space:nowrap">Security </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6838.9px;left:1516.69px;white-space:nowrap">Services </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6838.9px;left:2174.66px;white-space:nowrap">Borrower </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6838.9px;left:2868.17px;white-space:nowrap">LLC </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6838.9px;left:3206.14px;white-space:nowrap">/ </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6838.9px;left:3295.05px;white-space:nowrap">Prime </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6838.9px;left:3757.31px;white-space:nowrap">Finance, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6838.9px;left:4415.44px;white-space:nowrap">Inc.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6838.9px;left:4673.33px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6838.9px;left:4762.23px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7030.9px;left:576px;white-space:nowrap">Secured </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7030.9px;left:1216.39px;white-space:nowrap">Note</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7030.9px;left:1554.36px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7030.9px;left:1643.27px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7030.9px;left:2105.84px;white-space:nowrap">3.375</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7030.9px;left:2506.23px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7030.9px;left:2648.5px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7030.9px;left:2737.41px;white-space:nowrap">8/31/27</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7030.9px;left:3327.81px;letter-spacing:53.11px;white-space:nowrap">....................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7030.9px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7030.9px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7030.9px;left:7485.64px;white-space:nowrap">600,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7030.9px;left:9501.64px;white-space:nowrap">585,678</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:7230.59px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7227.38px;left:432px;white-space:nowrap">Stericycle, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7227.38px;left:1214.42px;white-space:nowrap">Inc.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7227.38px;left:1472.31px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7227.38px;left:1561.22px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7227.38px;left:2068.17px;white-space:nowrap">Note</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7227.38px;left:2406.14px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7227.38px;left:2495.05px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7227.38px;left:2957.63px;white-space:nowrap">3.875</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7227.38px;left:3358.02px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7227.38px;left:3500.28px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7227.38px;left:3589.19px;white-space:nowrap">1/15/29</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7227.38px;left:4168.52px;letter-spacing:56.5px;white-space:nowrap">...........</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7227.38px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7227.38px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7227.38px;left:7352.2px;white-space:nowrap">1,200,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7227.38px;left:9368.2px;white-space:nowrap">1,210,080</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7511.15px;left:9368.2px;white-space:nowrap">3,362,321</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:7809.47px;left:432px;white-space:nowrap">Communications </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:7809.47px;left:1774.34px;white-space:nowrap">Equipment </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:7809.47px;left:2645.44px;white-space:nowrap">0.8%</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:8009.17px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8005.96px;left:432px;white-space:nowrap">CommScope</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8005.96px;left:1356.77px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8005.96px;left:1445.67px;white-space:nowrap">Inc.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8005.96px;left:1703.56px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8005.96px;left:1792.47px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8005.96px;left:2299.42px;white-space:nowrap">Note</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8005.96px;left:2637.39px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8005.96px;left:2726.3px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8005.96px;left:3188.88px;white-space:nowrap">7.125</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8005.96px;left:3589.27px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8005.96px;left:3731.53px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8005.96px;left:3820.44px;white-space:nowrap">7/01/28</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8005.96px;left:4355.35px;letter-spacing:58.18px;white-space:nowrap">.........</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8005.96px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8005.96px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8005.96px;left:7352.2px;white-space:nowrap">1,600,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8005.96px;left:9380.08px;letter-spacing:-1.32px;white-space:nowrap">1,680,112</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8304.28px;left:432px;white-space:nowrap">Construction </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8304.28px;left:1471.92px;white-space:nowrap">&amp; </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8304.28px;left:1631.92px;white-space:nowrap">Engineering </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8304.28px;left:2600.91px;white-space:nowrap">1.1%</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:8503.98px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8500.76px;left:432px;white-space:nowrap">New </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8500.76px;left:796.53px;white-space:nowrap">Enterprise </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8500.76px;left:1570.2px;white-space:nowrap">Stone </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8500.76px;left:2032.78px;white-space:nowrap">&amp; </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8500.76px;left:2183.95px;white-space:nowrap">Lime </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8500.76px;left:2575.2px;white-space:nowrap">Co., </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8500.76px;left:2913.09px;white-space:nowrap">Inc.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8500.76px;left:3170.98px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8500.76px;left:3259.89px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8500.76px;left:3766.84px;white-space:nowrap">Secured </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8500.76px;left:4407.23px;white-space:nowrap">Note</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8500.76px;left:4745.2px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8500.76px;left:4834.11px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8692.76px;left:576px;white-space:nowrap">6.25</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8692.76px;left:887.41px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8692.76px;left:1029.67px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8692.76px;left:1118.58px;white-space:nowrap">3/15/26</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8692.76px;left:1739.78px;letter-spacing:51.2px;white-space:nowrap">.....................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8692.76px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8692.76px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8692.76px;left:7485.64px;white-space:nowrap">900,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8692.76px;left:9501.64px;white-space:nowrap">928,688</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:8892.46px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8889.25px;left:432px;letter-spacing:-0.41px;white-space:nowrap">Weekley</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8889.25px;left:1087.08px;white-space:nowrap">Homes </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8889.25px;left:1638.33px;white-space:nowrap">LLC </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8889.25px;left:1976.3px;white-space:nowrap">/ </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8889.25px;left:2065.2px;letter-spacing:-0.41px;white-space:nowrap">Weekley</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8889.25px;left:2720.28px;white-space:nowrap">Finance </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8889.25px;left:3333.95px;white-space:nowrap">Corp.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8889.25px;left:3725.2px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8889.25px;left:3814.11px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8889.25px;left:4321.06px;white-space:nowrap">Note</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8889.25px;left:4659.03px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8889.25px;left:4747.94px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9081.25px;left:576px;white-space:nowrap">4.875</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9081.25px;left:976.39px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9081.25px;left:1118.66px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9081.25px;left:1207.56px;white-space:nowrap">9/15/28</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9081.25px;left:1741.39px;letter-spacing:51.2px;white-space:nowrap">.....................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9081.25px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9081.25px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9081.25px;left:7352.2px;white-space:nowrap">1,300,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9081.25px;left:9368.2px;white-space:nowrap">1,361,750</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9365.01px;left:9368.2px;white-space:nowrap">2,290,438</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:9663.34px;left:432px;white-space:nowrap">Construction </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:9663.34px;left:1471.92px;white-space:nowrap">Materials </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:9663.34px;left:2210.05px;white-space:nowrap">0.6%</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:9863.03px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9859.82px;left:432px;white-space:nowrap">Cemex</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9859.82px;left:983.25px;white-space:nowrap">SAB </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9859.82px;left:1347.86px;white-space:nowrap">de </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9859.82px;left:1570.28px;letter-spacing:-7.34px;white-space:nowrap">CV</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9859.82px;left:1777.86px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9859.82px;left:1866.77px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9859.82px;left:2373.72px;white-space:nowrap">Secured </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9859.82px;left:3014.11px;white-space:nowrap">Note</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9859.82px;left:3352.08px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9859.82px;left:3440.98px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9859.82px;left:3903.56px;white-space:nowrap">5.2</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9859.82px;left:4125.98px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9859.82px;left:4268.25px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9859.82px;left:4357.16px;white-space:nowrap">9/17/30</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9859.82px;left:4915.83px;letter-spacing:76.62px;white-space:nowrap">...</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9859.82px;left:6117.2px;white-space:nowrap">Mexico</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9859.82px;left:7352.2px;white-space:nowrap">1,100,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9859.82px;left:9368.2px;white-space:nowrap">1,195,975</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:10158.15px;left:432px;white-space:nowrap">Consumer </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:10158.15px;left:1267.7px;white-space:nowrap">Finance </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:10158.15px;left:1916.77px;white-space:nowrap">1.8%</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:10357.84px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10354.63px;left:432px;white-space:nowrap">FirstCash</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10354.63px;left:1116.53px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10354.63px;left:1205.44px;white-space:nowrap">Inc.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10354.63px;left:1463.33px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10354.63px;left:1552.23px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10354.63px;left:2059.19px;white-space:nowrap">Note</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10354.63px;left:2397.16px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10354.63px;left:2486.06px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10354.63px;left:2948.64px;white-space:nowrap">4.625</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10354.63px;left:3349.03px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10354.63px;left:3491.3px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10354.63px;left:3580.2px;white-space:nowrap">9/01/28</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10354.63px;left:4168.52px;letter-spacing:56.5px;white-space:nowrap">...........</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10354.63px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10354.63px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10354.63px;left:7485.64px;white-space:nowrap">400,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10354.63px;left:9501.64px;white-space:nowrap">416,318</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10565.68px;left:432px;white-space:nowrap">Navient</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10565.68px;left:1018.95px;white-space:nowrap">Corp.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10565.68px;left:1410.2px;white-space:nowrap">,</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10762.16px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10762.16px;left:1082.95px;white-space:nowrap">Note, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10762.16px;left:1509.83px;white-space:nowrap">6.625%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10762.16px;left:2141.39px;white-space:nowrap">7/26/21 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10762.16px;left:2767.33px;letter-spacing:52.15px;white-space:nowrap">..........................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10762.16px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10762.16px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10762.16px;left:7485.64px;white-space:nowrap">400,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10762.16px;left:9501.64px;white-space:nowrap">406,750</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10958.65px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10958.65px;left:1082.95px;white-space:nowrap">Note, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10958.65px;left:1509.83px;white-space:nowrap">6.5%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10958.65px;left:1963.42px;white-space:nowrap">6/15/22 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10958.65px;left:2580.5px;letter-spacing:51.92px;white-space:nowrap">............................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10958.65px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10958.65px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10958.65px;left:7485.64px;white-space:nowrap">500,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10958.65px;left:9501.64px;white-space:nowrap">520,065</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11155.13px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11155.13px;left:1082.95px;white-space:nowrap">Note, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11155.13px;left:1509.83px;white-space:nowrap">7.25%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11155.13px;left:2052.41px;white-space:nowrap">9/25/23 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11155.13px;left:2673.91px;letter-spacing:52.03px;white-space:nowrap">...........................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11155.13px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11155.13px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11155.13px;left:7485.64px;white-space:nowrap">600,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11155.13px;left:9501.64px;white-space:nowrap">652,125</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11366.18px;left:432px;white-space:nowrap">OneMain</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11366.18px;left:1125.67px;white-space:nowrap">Finance </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11366.18px;left:1739.34px;white-space:nowrap">Corp.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11366.18px;left:2130.59px;white-space:nowrap">,</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11562.66px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11562.66px;left:1082.95px;white-space:nowrap">Bond, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11562.66px;left:1545.53px;white-space:nowrap">5.375%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11562.66px;left:2177.09px;letter-spacing:-1.32px;white-space:nowrap">11/15/29 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11562.66px;left:2860.74px;letter-spacing:52.28px;white-space:nowrap">.........................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11562.66px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11562.66px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11562.66px;left:7352.2px;white-space:nowrap">1,000,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11562.66px;left:9368.2px;white-space:nowrap">1,057,500</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: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:80px;position:absolute;top:280.75px;left:0px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:80px;position:absolute;top:280.75px;left:432px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:213.02px;left:6010.72px;white-space:nowrap">Country</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:80px;position:absolute;top:280.75px;left:8451.51px;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">Corporate </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:499.31px;left:1443.23px;white-space:nowrap">Bonds </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:533.18px;left:2120.96px;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">Consumer </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:744.23px;left:1267.7px;white-space:nowrap">Finance </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:744.23px;left:1916.77px;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">OneMain </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:955.27px;left:1125.67px;white-space:nowrap">Finance </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:955.27px;left:1739.34px;white-space:nowrap">Corp., </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:955.27px;left:2219.5px;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">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1151.76px;left:1082.95px;white-space:nowrap">Note, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1151.76px;left:1509.83px;white-space:nowrap">6.625%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1151.76px;left:2141.39px;white-space:nowrap">1/15/28 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1151.76px;left:2767.33px;letter-spacing:52.15px;white-space:nowrap">..........................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1151.76px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1151.76px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1151.76px;left:7485.64px;white-space:nowrap">700,000</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">797,223</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1435.52px;left:9368.2px;white-space:nowrap">3,849,981</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1733.85px;left:432px;white-space:nowrap">Containers </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1733.85px;left:1312.16px;white-space:nowrap">&amp; </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1733.85px;left:1472.16px;white-space:nowrap">Packaging </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1733.85px;left:2316.92px;white-space:nowrap">4.6%</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:1933.54px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1944.89px;left:432px;white-space:nowrap">Ardagh</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1944.89px;left:992.39px;white-space:nowrap">Packaging </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1944.89px;left:1784.03px;white-space:nowrap">Finance </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1944.89px;left:2397.7px;white-space:nowrap">plc </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1944.89px;left:2646.69px;white-space:nowrap">/ </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1944.89px;left:2726.77px;white-space:nowrap">Ardagh</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1944.89px;left:3287.16px;white-space:nowrap">Holdings </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1944.89px;left:3954.19px;white-space:nowrap">USA, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1944.89px;left:4372.08px;white-space:nowrap">Inc.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1944.89px;left:4629.97px;white-space:nowrap">,</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2141.38px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2141.38px;left:1082.95px;white-space:nowrap">Note, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2141.38px;left:1509.83px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2141.38px;left:1972.41px;white-space:nowrap">5.25%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2141.38px;left:2514.98px;white-space:nowrap">8/15/27 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2141.38px;left:3140.98px;letter-spacing:52.73px;white-space:nowrap">......................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2141.38px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2141.38px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2141.38px;left:7485.64px;white-space:nowrap">600,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2141.38px;left:9501.64px;white-space:nowrap">622,170</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2337.86px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2337.86px;left:1082.95px;white-space:nowrap">Secured </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2337.86px;left:1723.34px;white-space:nowrap">Note, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2337.86px;left:2150.22px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2337.86px;left:2612.8px;white-space:nowrap">5.25%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2337.86px;left:3155.38px;white-space:nowrap">4/30/25 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2337.86px;left:3794.87px;letter-spacing:54.49px;white-space:nowrap">...............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2337.86px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2337.86px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2337.86px;left:7485.64px;white-space:nowrap">800,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2337.86px;left:9501.64px;white-space:nowrap">845,076</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:2537.55px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2548.9px;left:432px;white-space:nowrap">Mauser </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2548.9px;left:1009.97px;white-space:nowrap">Packaging </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2548.9px;left:1801.61px;white-space:nowrap">Solutions </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2548.9px;left:2504.27px;white-space:nowrap">Holding </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2548.9px;left:3091.3px;white-space:nowrap">Co.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2548.9px;left:3340.28px;white-space:nowrap">,</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2745.39px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2745.39px;left:1082.95px;white-space:nowrap">Note, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2745.39px;left:1509.83px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2745.39px;left:1972.41px;white-space:nowrap">7.25%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2745.39px;left:2514.98px;white-space:nowrap">4/15/25 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2745.39px;left:3140.98px;letter-spacing:52.73px;white-space:nowrap">......................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2745.39px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2745.39px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2745.39px;left:7352.2px;white-space:nowrap">1,800,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2745.39px;left:9368.2px;white-space:nowrap">1,780,897</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2941.87px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2941.87px;left:1082.95px;white-space:nowrap">Secured </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2941.87px;left:1723.34px;white-space:nowrap">Note, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2941.87px;left:2150.22px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2941.87px;left:2612.8px;white-space:nowrap">8.5%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2941.87px;left:3066.39px;white-space:nowrap">4/15/24 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2941.87px;left:3701.46px;letter-spacing:54.15px;white-space:nowrap">................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2941.87px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2941.87px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2941.87px;left:7352.2px;white-space:nowrap">1,000,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2941.87px;left:9368.2px;white-space:nowrap">1,035,000</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:3141.57px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3152.92px;left:432px;white-space:nowrap">Owens-Brockway </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3152.92px;left:1721.22px;white-space:nowrap">Glass </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3152.92px;left:2174.66px;letter-spacing:-0.8px;white-space:nowrap">Container, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3152.92px;left:2948.48px;white-space:nowrap">Inc.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3152.92px;left:3206.38px;white-space:nowrap">,</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3349.4px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3349.4px;left:1082.95px;white-space:nowrap">Note, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3349.4px;left:1509.83px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3349.4px;left:1972.41px;white-space:nowrap">5.875%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3349.4px;left:2603.97px;white-space:nowrap">8/15/23 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3349.4px;left:3234.39px;letter-spacing:52.91px;white-space:nowrap">.....................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3349.4px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3349.4px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3349.4px;left:7485.64px;white-space:nowrap">500,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3349.4px;left:9501.64px;white-space:nowrap">538,437</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3545.89px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3545.89px;left:1082.95px;white-space:nowrap">Note, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3545.89px;left:1509.83px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3545.89px;left:1972.41px;white-space:nowrap">6.625%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3545.89px;left:2603.97px;white-space:nowrap">5/13/27 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3545.89px;left:3234.39px;letter-spacing:52.91px;white-space:nowrap">.....................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3545.89px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3545.89px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3545.89px;left:7485.64px;white-space:nowrap">500,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3545.89px;left:9501.64px;white-space:nowrap">537,188</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:3745.58px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3742.37px;left:432px;white-space:nowrap">Plastipak </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3742.37px;left:1125.67px;white-space:nowrap">Holdings, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3742.37px;left:1837.16px;white-space:nowrap">Inc.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3742.37px;left:2095.05px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3742.37px;left:2183.95px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3742.37px;left:2690.91px;white-space:nowrap">Note</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3742.37px;left:3028.88px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3742.37px;left:3117.78px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3742.37px;left:3580.36px;white-space:nowrap">6.25</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3742.37px;left:3891.77px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3742.37px;left:4034.03px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3742.37px;left:4122.94px;white-space:nowrap">10/15/25</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3742.37px;left:4822.42px;letter-spacing:69.7px;white-space:nowrap">....</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3742.37px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3742.37px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3742.37px;left:7352.2px;white-space:nowrap">1,700,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3742.37px;left:9368.2px;white-space:nowrap">1,749,938</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:3942.07px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3938.86px;left:432px;white-space:nowrap">Reynolds </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3938.86px;left:1143.48px;white-space:nowrap">Group </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3938.86px;left:1632.63px;letter-spacing:-1.1px;white-space:nowrap">Issuer, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3938.86px;left:2148.41px;white-space:nowrap">Inc. </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3938.86px;left:2450.75px;white-space:nowrap">/ </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3938.86px;left:2539.66px;white-space:nowrap">Reynolds </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3938.86px;left:3251.14px;white-space:nowrap">Group </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3938.86px;left:3740.28px;white-space:nowrap">Issuer </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3938.86px;left:4220.44px;white-space:nowrap">LLC </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3938.86px;left:4558.41px;white-space:nowrap">/ </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3938.86px;left:4647.31px;white-space:nowrap">Reynolds </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4130.86px;left:576px;white-space:nowrap">Group </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4130.86px;left:1065.14px;white-space:nowrap">Issuer </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4130.86px;left:1545.3px;white-space:nowrap">Luxembourg </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4130.86px;left:2479.2px;white-space:nowrap">SA</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4130.86px;left:2692.64px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4130.86px;left:2781.55px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4130.86px;left:3288.5px;white-space:nowrap">Secured </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4130.86px;left:3928.89px;white-space:nowrap">Note</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4130.86px;left:4266.86px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4130.86px;left:4355.77px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4130.86px;left:4818.34px;white-space:nowrap">4</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4130.86px;left:4907.33px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4130.86px;left:5049.59px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4322.86px;left:576px;white-space:nowrap">10/15/27</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4322.86px;left:1272.72px;letter-spacing:50.94px;white-space:nowrap">..........................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4322.86px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4322.86px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4322.86px;left:7352.2px;white-space:nowrap">1,200,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4322.86px;left:9368.2px;white-space:nowrap">1,197,744</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:4522.55px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4519.34px;left:432px;white-space:nowrap">Sealed </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4519.34px;left:965.83px;white-space:nowrap">Air </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4519.34px;left:1205.83px;white-space:nowrap">Corp.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4519.34px;left:1597.08px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4519.34px;left:1685.98px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4519.34px;left:2192.94px;white-space:nowrap">Bond</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4519.34px;left:2566.61px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4519.34px;left:2655.52px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4519.34px;left:3118.09px;white-space:nowrap">5.5</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4519.34px;left:3340.52px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4519.34px;left:3482.78px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4519.34px;left:3571.69px;white-space:nowrap">9/15/25</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4519.34px;left:4168.52px;letter-spacing:56.5px;white-space:nowrap">...........</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4519.34px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4519.34px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4519.34px;left:7485.64px;white-space:nowrap">200,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4519.34px;left:9501.64px;white-space:nowrap">222,625</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:4719.03px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4715.82px;left:432px;letter-spacing:-0.74px;white-space:nowrap">Trivium </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4715.82px;left:994.89px;white-space:nowrap">Packaging </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4715.82px;left:1786.53px;white-space:nowrap">Finance </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4715.82px;left:2400.2px;letter-spacing:-7.34px;white-space:nowrap">BV</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4715.82px;left:2598.95px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4715.82px;left:2687.86px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4715.82px;left:3194.81px;white-space:nowrap">Note</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4715.82px;left:3532.78px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4715.82px;left:3621.69px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4715.82px;left:4084.27px;white-space:nowrap">8.5</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4715.82px;left:4306.69px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4715.82px;left:4448.95px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4715.82px;left:4537.86px;white-space:nowrap">8/15/27</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4715.82px;left:5102.66px;letter-spacing:131.93px;white-space:nowrap">.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4715.82px;left:5761.27px;white-space:nowrap">Netherlands</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4715.82px;left:7352.2px;white-space:nowrap">1,000,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4715.82px;left:9368.2px;white-space:nowrap">1,074,275</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4999.59px;left:9368.2px;white-space:nowrap">9,603,350</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5297.91px;left:432px;text-rendering:optimizeLegibility;white-space:nowrap">Diversified </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5297.91px;left:1294.58px;white-space:nowrap">Financial </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5297.91px;left:2032.55px;white-space:nowrap">Services </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5297.91px;left:2735.36px;white-space:nowrap">0.7%</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:5497.61px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5494.4px;left:432px;white-space:nowrap">MPH </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5494.4px;left:823.17px;white-space:nowrap">Acquisition </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5494.4px;left:1641.38px;white-space:nowrap">Holdings </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5494.4px;left:2308.41px;white-space:nowrap">LLC</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5494.4px;left:2601.92px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5494.4px;left:2690.83px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5494.4px;left:3197.78px;white-space:nowrap">Note</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5494.4px;left:3535.75px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5494.4px;left:3624.66px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5494.4px;left:4087.23px;white-space:nowrap">5.75</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5494.4px;left:4398.64px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5494.4px;left:4540.91px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5494.4px;left:4629.81px;letter-spacing:-1.48px;white-space:nowrap">11/01/28</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5494.4px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5494.4px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5494.4px;left:7352.2px;white-space:nowrap">1,500,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5494.4px;left:9368.2px;white-space:nowrap">1,490,625</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5792.72px;left:432px;text-rendering:optimizeLegibility;white-space:nowrap">Diversified </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5792.72px;left:1294.58px;letter-spacing:-0.66px;white-space:nowrap">Telecommunication </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5792.72px;left:2829.66px;white-space:nowrap">Services </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5792.72px;left:3532.47px;white-space:nowrap">4.0%</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:5992.42px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5989.21px;left:432px;white-space:nowrap">Altice </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5989.21px;left:867.7px;white-space:nowrap">France </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5989.21px;left:1410.13px;white-space:nowrap">Holding </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5989.21px;left:1997.16px;white-space:nowrap">SA</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5989.21px;left:2210.59px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5989.21px;left:2299.5px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5989.21px;left:2806.45px;white-space:nowrap">Secured </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5989.21px;left:3446.84px;white-space:nowrap">Note</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5989.21px;left:3784.81px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5989.21px;left:3873.72px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5989.21px;left:4336.3px;white-space:nowrap">10.5</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5989.21px;left:4647.7px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5989.21px;left:4789.97px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6181.21px;left:576px;white-space:nowrap">5/15/27</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6181.21px;left:1179.3px;letter-spacing:50.89px;white-space:nowrap">...........................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6181.21px;left:5734.55px;white-space:nowrap">Luxembourg</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6181.21px;left:7352.2px;white-space:nowrap">2,000,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6181.21px;left:9368.2px;white-space:nowrap">2,252,350</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:6380.9px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6392.25px;left:432px;white-space:nowrap">CCO </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6392.25px;left:832px;white-space:nowrap">Holdings </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6392.25px;left:1499.03px;white-space:nowrap">LLC </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6392.25px;left:1837px;white-space:nowrap">/ </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6392.25px;left:1925.91px;white-space:nowrap">CCO </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6392.25px;left:2325.91px;white-space:nowrap">Holdings </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6392.25px;left:2992.94px;white-space:nowrap">Capital </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6392.25px;left:3535.44px;white-space:nowrap">Corp.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6392.25px;left:3926.69px;white-space:nowrap">,</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6588.74px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6588.74px;left:1082.95px;white-space:nowrap">Bond, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6588.74px;left:1545.53px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6588.74px;left:2008.11px;white-space:nowrap">5.75%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6588.74px;left:2550.69px;white-space:nowrap">2/15/26 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6588.74px;left:3140.98px;letter-spacing:52.73px;white-space:nowrap">......................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6588.74px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6588.74px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6588.74px;left:7485.64px;white-space:nowrap">700,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6588.74px;left:9501.64px;white-space:nowrap">724,360</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6785.22px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6785.22px;left:1082.95px;white-space:nowrap">Bond, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6785.22px;left:1545.53px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6785.22px;left:2008.11px;white-space:nowrap">5.375%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6785.22px;left:2639.67px;white-space:nowrap">6/01/29 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6785.22px;left:3234.39px;letter-spacing:52.91px;white-space:nowrap">.....................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6785.22px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6785.22px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6785.22px;left:7485.64px;white-space:nowrap">500,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6785.22px;left:9501.64px;white-space:nowrap">539,430</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6981.71px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6981.71px;left:1082.95px;white-space:nowrap">Bond, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6981.71px;left:1545.53px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6981.71px;left:2008.11px;white-space:nowrap">4.5%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6981.71px;left:2461.7px;white-space:nowrap">8/15/30 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6981.71px;left:3047.57px;letter-spacing:52.57px;white-space:nowrap">.......................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6981.71px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6981.71px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6981.71px;left:7352.2px;white-space:nowrap">1,700,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6981.71px;left:9368.2px;white-space:nowrap">1,762,483</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7178.19px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7178.19px;left:1082.95px;white-space:nowrap">Bond, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7178.19px;left:1545.53px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7178.19px;left:2008.11px;white-space:nowrap">4.25%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7178.19px;left:2550.69px;white-space:nowrap">2/01/31 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7178.19px;left:3140.98px;letter-spacing:52.73px;white-space:nowrap">......................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7178.19px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7178.19px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7178.19px;left:7485.64px;white-space:nowrap">200,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7178.19px;left:9501.64px;white-space:nowrap">202,750</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:7377.89px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7374.67px;left:432px;letter-spacing:-0.72px;white-space:nowrap">DKT </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7374.67px;left:793.56px;white-space:nowrap">Finance </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7374.67px;left:1398.41px;white-space:nowrap">ApS</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7374.67px;left:1700.83px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7374.67px;left:1789.73px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7374.67px;left:2296.69px;white-space:nowrap">Secured </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7374.67px;left:2937.08px;white-space:nowrap">Note</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7374.67px;left:3275.05px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7374.67px;left:3363.95px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7374.67px;left:3826.53px;white-space:nowrap">9.375</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7374.67px;left:4226.92px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7374.67px;left:4369.19px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7374.67px;left:4458.09px;white-space:nowrap">6/17/23</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7374.67px;left:5009.24px;letter-spacing:90.45px;white-space:nowrap">..</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7374.67px;left:5974.94px;white-space:nowrap">Denmark</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7374.67px;left:7352.2px;white-space:nowrap">1,500,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7374.67px;left:9368.2px;white-space:nowrap">1,559,250</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:7574.37px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7585.72px;left:432px;letter-spacing:-0.41px;white-space:nowrap">Virgin </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7585.72px;left:882.63px;white-space:nowrap">Media </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7585.72px;left:1362.86px;white-space:nowrap">Secured </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7585.72px;left:2003.25px;white-space:nowrap">Finance </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7585.72px;left:2616.92px;white-space:nowrap">plc</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7585.72px;left:2821.45px;white-space:nowrap">,</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7782.2px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7782.2px;left:1082.95px;white-space:nowrap">Secured </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7782.2px;left:1723.34px;white-space:nowrap">Bond, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7782.2px;left:2185.92px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7782.2px;left:2648.5px;white-space:nowrap">5.5%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7782.2px;left:3102.09px;white-space:nowrap">8/15/26 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7782.2px;left:3701.46px;letter-spacing:54.15px;white-space:nowrap">................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7782.2px;left:5485.56px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7782.2px;left:5992.52px;white-space:nowrap">Kingdom</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7782.2px;left:7485.64px;white-space:nowrap">200,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7782.2px;left:9501.64px;white-space:nowrap">208,600</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7978.69px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7978.69px;left:1082.95px;white-space:nowrap">Secured </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7978.69px;left:1723.34px;white-space:nowrap">Bond, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7978.69px;left:2185.92px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7978.69px;left:2648.5px;white-space:nowrap">4.5%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7978.69px;left:3102.09px;white-space:nowrap">8/15/30 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7978.69px;left:3701.46px;letter-spacing:54.15px;white-space:nowrap">................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7978.69px;left:5485.56px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7978.69px;left:5992.52px;white-space:nowrap">Kingdom</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7978.69px;left:7352.2px;white-space:nowrap">1,100,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7978.69px;left:9368.2px;white-space:nowrap">1,125,850</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8262.45px;left:9368.2px;white-space:nowrap">8,375,073</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8560.78px;left:432px;white-space:nowrap">Electric </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8560.78px;left:1054.58px;white-space:nowrap">Utilities </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8560.78px;left:1676.92px;white-space:nowrap">0.8%</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:8760.47px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8757.26px;left:432px;letter-spacing:-0.48px;white-space:nowrap">Vistra</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8757.26px;left:882.55px;white-space:nowrap">Operations </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8757.26px;left:1709.66px;white-space:nowrap">Co. </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8757.26px;left:2003.09px;white-space:nowrap">LLC</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8757.26px;left:2296.61px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8757.26px;left:2385.52px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8757.26px;left:2892.47px;white-space:nowrap">Note</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8757.26px;left:3230.44px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8757.26px;left:3319.34px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8757.26px;left:3781.92px;white-space:nowrap">5.625</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8757.26px;left:4182.31px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8757.26px;left:4324.58px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8757.26px;left:4413.48px;white-space:nowrap">2/15/27</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8757.26px;left:5009.24px;letter-spacing:90.45px;white-space:nowrap">..</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8757.26px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8757.26px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8757.26px;left:7352.2px;white-space:nowrap">1,500,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8757.26px;left:9368.2px;white-space:nowrap">1,569,690</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:9055.59px;left:432px;white-space:nowrap">Electronic </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:9055.59px;left:1250.05px;white-space:nowrap">Equipment, </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:9055.59px;left:2165.59px;white-space:nowrap">Instruments </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:9055.59px;left:3125.75px;white-space:nowrap">&amp; </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:9055.59px;left:3285.75px;white-space:nowrap">Components </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:9055.59px;left:4307.94px;white-space:nowrap">0.2%</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:9255.28px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9252.07px;left:432px;white-space:nowrap">TTM </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9252.07px;left:802.31px;letter-spacing:-1.27px;white-space:nowrap">Technologies, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9252.07px;left:1825.2px;white-space:nowrap">Inc.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9252.07px;left:2083.09px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9252.07px;left:2172px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9252.07px;left:2678.95px;white-space:nowrap">Note</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9252.07px;left:3016.92px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9252.07px;left:3105.83px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9252.07px;left:3568.41px;white-space:nowrap">4</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9252.07px;left:3657.39px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9252.07px;left:3799.66px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9252.07px;left:3888.56px;white-space:nowrap">3/01/29</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9252.07px;left:4448.76px;letter-spacing:59.33px;white-space:nowrap">........</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9252.07px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9252.07px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9252.07px;left:7485.64px;white-space:nowrap">500,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9252.07px;left:9501.64px;white-space:nowrap">506,250</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:9550.4px;left:432px;white-space:nowrap">Energy </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:9550.4px;left:1018.88px;white-space:nowrap">Equipment </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:9550.4px;left:1889.97px;white-space:nowrap">&amp; </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:9550.4px;left:2049.97px;white-space:nowrap">Services </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:9550.4px;left:2752.78px;white-space:nowrap">1.6%</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:9750.09px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9761.44px;left:432px;white-space:nowrap">CSI </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9761.44px;left:743.17px;white-space:nowrap">Compressco</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9761.44px;left:1685.67px;letter-spacing:-0.96px;white-space:nowrap">LP </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9761.44px;left:1922.94px;white-space:nowrap">/ </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9761.44px;left:2011.84px;white-space:nowrap">CSI </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9761.44px;left:2323.02px;white-space:nowrap">Compressco</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9761.44px;left:3265.52px;white-space:nowrap">Finance, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9761.44px;left:3923.64px;white-space:nowrap">Inc.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9761.44px;left:4181.53px;white-space:nowrap">,</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:9961.14px;left:380.12px;white-space:nowrap">d</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9957.93px;left:576px;white-space:nowrap">Secured </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9957.93px;left:1216.39px;white-space:nowrap">Note, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9957.93px;left:1643.27px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9957.93px;left:2105.84px;white-space:nowrap">PIK, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9957.93px;left:2452.64px;white-space:nowrap">10%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9957.93px;left:2861.78px;white-space:nowrap">4/01/26 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9957.93px;left:3514.63px;letter-spacing:53.57px;white-space:nowrap">..................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9957.93px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9957.93px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9957.93px;left:7485.64px;white-space:nowrap">948,950</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9957.93px;left:9501.64px;white-space:nowrap">797,421</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10154.41px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10154.41px;left:1082.95px;white-space:nowrap">Secured </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10154.41px;left:1723.34px;white-space:nowrap">Note, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10154.41px;left:2150.22px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10154.41px;left:2612.8px;white-space:nowrap">7.5%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10154.41px;left:3066.39px;white-space:nowrap">4/01/25 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10154.41px;left:3701.46px;letter-spacing:54.15px;white-space:nowrap">................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10154.41px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10154.41px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10154.41px;left:7485.64px;white-space:nowrap">402,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10154.41px;left:9501.64px;white-space:nowrap">404,261</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:10354.11px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10365.46px;left:432px;white-space:nowrap">Nabors </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10365.46px;left:992.23px;white-space:nowrap">Industries </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10365.46px;left:1730.36px;white-space:nowrap">Ltd.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10365.46px;left:1997.23px;white-space:nowrap">,</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10561.94px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10561.94px;left:1082.95px;white-space:nowrap">Note, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10561.94px;left:1509.83px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10561.94px;left:1972.41px;white-space:nowrap">7.25%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10561.94px;left:2514.98px;white-space:nowrap">1/15/26 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10561.94px;left:3140.98px;letter-spacing:52.73px;white-space:nowrap">......................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10561.94px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10561.94px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10561.94px;left:7485.64px;white-space:nowrap">600,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10561.94px;left:9501.64px;white-space:nowrap">533,820</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10758.42px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10758.42px;left:1082.95px;white-space:nowrap">Note, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10758.42px;left:1509.83px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10758.42px;left:1972.41px;white-space:nowrap">7.5%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10758.42px;left:2426px;white-space:nowrap">1/15/28 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10758.42px;left:3047.57px;letter-spacing:52.57px;white-space:nowrap">.......................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10758.42px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10758.42px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10758.42px;left:7485.64px;white-space:nowrap">400,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10758.42px;left:9501.64px;white-space:nowrap">346,498</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10954.91px;left:432px;white-space:nowrap">Nabors </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10954.91px;left:992.23px;white-space:nowrap">Industries, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10954.91px;left:1774.81px;white-space:nowrap">Inc.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10954.91px;left:2032.7px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10954.91px;left:2121.61px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10954.91px;left:2628.56px;white-space:nowrap">Note</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10954.91px;left:2966.53px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10954.91px;left:3055.44px;white-space:nowrap">5.75</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10954.91px;left:3366.84px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10954.91px;left:3509.11px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10954.91px;left:3598.02px;white-space:nowrap">2/01/25</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10954.91px;left:4168.52px;letter-spacing:56.5px;white-space:nowrap">...........</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10969.47px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10969.47px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10969.47px;left:7485.64px;white-space:nowrap">500,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10969.47px;left:9501.64px;white-space:nowrap">397,813</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:11169.16px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11165.95px;left:432px;letter-spacing:-0.24px;white-space:nowrap">Weatherford </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11165.95px;left:1353.95px;white-space:nowrap">International </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11165.95px;left:2279.03px;white-space:nowrap">Ltd.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11165.95px;left:2545.91px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11165.95px;left:2634.81px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11165.95px;left:3141.77px;white-space:nowrap">Note</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11165.95px;left:3479.73px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11165.95px;left:3568.64px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11165.95px;left:4031.22px;letter-spacing:-5.94px;white-space:nowrap">11</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11165.95px;left:4197.31px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11165.95px;left:4339.58px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11165.95px;left:4428.48px;white-space:nowrap">12/01/24</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11165.95px;left:5102.66px;letter-spacing:131.93px;white-space:nowrap">.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11165.95px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11165.95px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11165.95px;left:7485.64px;white-space:nowrap">917,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11165.95px;left:9501.64px;white-space:nowrap">902,970</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11449.72px;left:9368.2px;white-space:nowrap">3,382,783</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:7986px">

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			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:3572.9px;white-space:nowrap">The </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:3835.48px;white-space:nowrap">accompanying </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:4718.06px;white-space:nowrap">notes </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:5075.56px;white-space:nowrap">are </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:5301.65px;white-space:nowrap">an </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:5484.08px;white-space:nowrap">integral </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:5950.87px;white-space:nowrap">part </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:6213.45px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:6359.39px;white-space:nowrap">these </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:6716.89px;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:7234.78px;white-space:nowrap">statements.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:8069.08px;white-space:nowrap">Semiannual </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)">

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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: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:80px;position:absolute;top:280.75px;left:0px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:80px;position:absolute;top:280.75px;left:432px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:213.02px;left:6010.72px;white-space:nowrap">Country</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:80px;position:absolute;top:280.75px;left:8451.51px;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">Corporate </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:499.31px;left:1443.23px;white-space:nowrap">Bonds </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:533.18px;left:2120.96px;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">Entertainment </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:744.23px;left:1552.16px;white-space:nowrap">1.8%</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:943.92px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:940.71px;left:432px;white-space:nowrap">Banijay</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:940.71px;left:1001.22px;white-space:nowrap">Entertainment </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:940.71px;left:2041.77px;white-space:nowrap">SASU</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:940.71px;left:2477.47px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:940.71px;left:2566.38px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:940.71px;left:3073.33px;white-space:nowrap">Secured </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:940.71px;left:3713.72px;white-space:nowrap">Note</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:940.71px;left:4051.69px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:940.71px;left:4140.59px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:940.71px;left:4603.17px;white-space:nowrap">5.375</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:940.71px;left:5003.56px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:940.71px;left:5145.83px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1132.71px;left:576px;white-space:nowrap">3/01/25</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1132.71px;left:1179.3px;letter-spacing:50.89px;white-space:nowrap">...........................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1132.71px;left:6126.03px;white-space:nowrap">France</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1132.71px;left:7352.2px;white-space:nowrap">1,000,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1132.71px;left:9279.22px;white-space:nowrap">$</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1132.71px;left:9368.2px;white-space:nowrap">1,023,125</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:1332.41px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1329.2px;left:432px;white-space:nowrap">Live </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1329.2px;left:769.97px;white-space:nowrap">Nation </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1329.2px;left:1276.92px;white-space:nowrap">Entertainment, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1329.2px;left:2361.92px;white-space:nowrap">Inc.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1329.2px;left:2619.81px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1329.2px;left:2708.72px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1329.2px;left:3215.67px;white-space:nowrap">Secured </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1329.2px;left:3856.06px;white-space:nowrap">Note</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1329.2px;left:4194.03px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1329.2px;left:4282.94px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1329.2px;left:4745.52px;white-space:nowrap">3.75</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1329.2px;left:5056.92px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1329.2px;left:5199.19px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1521.2px;left:576px;white-space:nowrap">1/15/28</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1521.2px;left:1179.3px;letter-spacing:50.89px;white-space:nowrap">...........................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1521.2px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1521.2px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1521.2px;left:7485.64px;white-space:nowrap">200,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1521.2px;left:9501.64px;white-space:nowrap">200,815</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1732.24px;left:432px;text-rendering:optimizeLegibility;white-space:nowrap">Netflix, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1732.24px;left:965.44px;white-space:nowrap">Inc.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1732.24px;left:1223.33px;white-space:nowrap">,</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1928.72px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1928.72px;left:1082.95px;white-space:nowrap">Bond, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1928.72px;left:1545.53px;white-space:nowrap">5.875%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1928.72px;left:2177.09px;white-space:nowrap">2/15/25 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1928.72px;left:2767.33px;letter-spacing:52.15px;white-space:nowrap">..........................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1928.72px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1928.72px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1928.72px;left:7485.64px;white-space:nowrap">800,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1928.72px;left:9501.64px;white-space:nowrap">918,936</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:2128.42px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2125.21px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2125.21px;left:1082.95px;white-space:nowrap">Note, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2125.21px;left:1509.83px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2125.21px;left:1972.41px;white-space:nowrap">3.625%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2125.21px;left:2603.97px;white-space:nowrap">6/15/25 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2125.21px;left:3234.39px;letter-spacing:52.91px;white-space:nowrap">.....................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2125.21px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2125.21px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2125.21px;left:7485.64px;white-space:nowrap">300,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2125.21px;left:9501.64px;white-space:nowrap">320,062</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:2324.9px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2321.69px;left:432px;white-space:nowrap">WMG </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2321.69px;left:876.37px;white-space:nowrap">Acquisition </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2321.69px;left:1694.58px;white-space:nowrap">Corp.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2321.69px;left:2085.83px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2321.69px;left:2174.73px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2321.69px;left:2681.69px;white-space:nowrap">Secured </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2321.69px;left:3322.08px;white-space:nowrap">Bond</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2321.69px;left:3695.75px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2321.69px;left:3784.66px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2321.69px;left:4247.23px;white-space:nowrap">3</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2321.69px;left:4336.22px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2321.69px;left:4478.48px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2321.69px;left:4567.39px;white-space:nowrap">2/15/31</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2321.69px;left:5102.66px;letter-spacing:131.93px;white-space:nowrap">.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2321.69px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2321.69px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2321.69px;left:7352.2px;white-space:nowrap">1,400,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2321.69px;left:9368.2px;white-space:nowrap">1,349,250</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2605.46px;left:9368.2px;white-space:nowrap">3,812,188</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2903.78px;left:432px;white-space:nowrap">Equity </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2903.78px;left:965.36px;white-space:nowrap">Real </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2903.78px;left:1347.78px;white-space:nowrap">Estate </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2903.78px;left:1872.47px;white-space:nowrap">Investment </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2903.78px;left:2761.61px;letter-spacing:-1.26px;white-space:nowrap">Trusts </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2903.78px;left:3286.22px;letter-spacing:-0.99px;white-space:nowrap">(REITs) </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2903.78px;left:3878.8px;white-space:nowrap">1.8%</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:3103.48px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3100.27px;left:432px;white-space:nowrap">Global </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3100.27px;left:938.95px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3100.27px;left:1232.39px;white-space:nowrap">Lease, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3100.27px;left:1757.23px;white-space:nowrap">Inc. </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3100.27px;left:2059.58px;white-space:nowrap">/ </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3100.27px;left:2148.48px;white-space:nowrap">Global </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3100.27px;left:2655.44px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3100.27px;left:2948.88px;white-space:nowrap">Lease </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3100.27px;left:3429.27px;white-space:nowrap">Operating </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3100.27px;left:4176.38px;white-space:nowrap">Partnership </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3100.27px;left:5039.03px;letter-spacing:-10.31px;white-space:nowrap">LP</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3100.27px;left:5214.11px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3292.27px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3292.27px;left:1082.95px;white-space:nowrap">Note</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3292.27px;left:1420.92px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3292.27px;left:1509.83px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3292.27px;left:1972.41px;white-space:nowrap">3.75</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3292.27px;left:2283.81px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3292.27px;left:2426.08px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3292.27px;left:2514.98px;white-space:nowrap">12/15/27</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3292.27px;left:3140.98px;letter-spacing:52.73px;white-space:nowrap">......................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3292.27px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3292.27px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3292.27px;left:7485.64px;white-space:nowrap">800,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3292.27px;left:9501.64px;white-space:nowrap">800,317</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:3491.96px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3503.31px;left:432px;letter-spacing:-3.69px;white-space:nowrap">HAT </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3503.31px;left:781.69px;white-space:nowrap">Holdings </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3503.31px;left:1448.72px;white-space:nowrap">I </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3503.31px;left:1537.63px;white-space:nowrap">LLC </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3503.31px;left:1875.59px;white-space:nowrap">/ </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3503.31px;left:1964.5px;letter-spacing:-3.69px;white-space:nowrap">HAT </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3503.31px;left:2314.19px;white-space:nowrap">Holdings </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3503.31px;left:2981.22px;white-space:nowrap">II </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3503.31px;left:3114.58px;white-space:nowrap">LLC</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3503.31px;left:3408.09px;white-space:nowrap">,</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3699.8px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3699.8px;left:1082.95px;white-space:nowrap">Note, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3699.8px;left:1509.83px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3699.8px;left:1972.41px;white-space:nowrap">5.25%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3699.8px;left:2514.98px;white-space:nowrap">7/15/24 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3699.8px;left:3140.98px;letter-spacing:52.73px;white-space:nowrap">......................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3699.8px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3699.8px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3699.8px;left:7485.64px;white-space:nowrap">800,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3699.8px;left:9501.64px;white-space:nowrap">828,408</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3896.28px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3896.28px;left:1082.95px;white-space:nowrap">Note, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3896.28px;left:1509.83px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3896.28px;left:1972.41px;white-space:nowrap">6%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3896.28px;left:2292.56px;white-space:nowrap">4/15/25 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3896.28px;left:2954.15px;letter-spacing:52.42px;white-space:nowrap">........................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3896.28px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3896.28px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3896.28px;left:7485.64px;white-space:nowrap">600,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3896.28px;left:9501.64px;white-space:nowrap">630,750</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4092.77px;left:432px;letter-spacing:-0.72px;white-space:nowrap">MPT </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4092.77px;left:811.3px;white-space:nowrap">Operating </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4092.77px;left:1558.41px;white-space:nowrap">Partnership </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4092.77px;left:2421.06px;letter-spacing:-0.96px;white-space:nowrap">LP </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4092.77px;left:2658.33px;white-space:nowrap">/ </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4092.77px;left:2747.23px;letter-spacing:-0.72px;white-space:nowrap">MPT </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4092.77px;left:3126.53px;white-space:nowrap">Finance </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4092.77px;left:3740.2px;white-space:nowrap">Corp.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4092.77px;left:4131.45px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4092.77px;left:4220.36px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4092.77px;left:4727.31px;white-space:nowrap">Bond</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4092.77px;left:5100.98px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4284.77px;left:576px;white-space:nowrap">5.25</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4284.77px;left:887.41px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4284.77px;left:1029.67px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4284.77px;left:1118.58px;white-space:nowrap">8/01/26</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4284.77px;left:1739.78px;letter-spacing:51.2px;white-space:nowrap">.....................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4284.77px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4284.77px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4284.77px;left:7485.64px;white-space:nowrap">300,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4284.77px;left:9513.52px;letter-spacing:-1.7px;white-space:nowrap">311,490</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:4484.46px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4481.25px;left:432px;white-space:nowrap">Park </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4481.25px;left:805.44px;white-space:nowrap">Intermediate </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4481.25px;left:1739.27px;white-space:nowrap">Holdings </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4481.25px;left:2406.3px;white-space:nowrap">LLC </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4481.25px;left:2744.27px;white-space:nowrap">/ </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4481.25px;left:2833.17px;white-space:nowrap">PK </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4481.25px;left:3091.06px;white-space:nowrap">Domestic </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4481.25px;left:3802.31px;white-space:nowrap">Property </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4481.25px;left:4451.45px;white-space:nowrap">LLC </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4481.25px;left:4789.42px;white-space:nowrap">/ </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4481.25px;left:4878.33px;white-space:nowrap">PK </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4673.25px;left:576px;white-space:nowrap">Finance </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4673.25px;left:1189.67px;letter-spacing:-0.98px;white-space:nowrap">Co-Issuer</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4673.25px;left:1874.36px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4673.25px;left:1963.27px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4673.25px;left:2470.22px;white-space:nowrap">Secured </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4673.25px;left:3110.61px;white-space:nowrap">Note</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4673.25px;left:3448.58px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4673.25px;left:3537.48px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4673.25px;left:4000.06px;white-space:nowrap">5.875</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4673.25px;left:4400.45px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4673.25px;left:4542.72px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4673.25px;left:4631.63px;white-space:nowrap">10/01/28</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4673.25px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4673.25px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4673.25px;left:7485.64px;white-space:nowrap">500,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4673.25px;left:9501.64px;white-space:nowrap">527,650</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:4872.94px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4869.73px;left:432px;white-space:nowrap">VICI </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4869.73px;left:787.62px;white-space:nowrap">Properties </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4869.73px;left:1561.3px;letter-spacing:-0.96px;white-space:nowrap">LP </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4869.73px;left:1798.56px;white-space:nowrap">/ </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4869.73px;left:1887.47px;white-space:nowrap">VICI </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4869.73px;left:2243.09px;white-space:nowrap">Note </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4869.73px;left:2625.52px;white-space:nowrap">Co., </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4869.73px;left:2963.41px;white-space:nowrap">Inc.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4869.73px;left:3221.3px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4869.73px;left:3310.2px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4869.73px;left:3817.16px;white-space:nowrap">Note</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4869.73px;left:4155.13px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4869.73px;left:4244.03px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4869.73px;left:4706.61px;white-space:nowrap">3.75</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4869.73px;left:5018.02px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4869.73px;left:5160.28px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5061.73px;left:576px;white-space:nowrap">2/15/27</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5061.73px;left:1179.3px;letter-spacing:50.89px;white-space:nowrap">...........................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5061.73px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5061.73px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5061.73px;left:7485.64px;white-space:nowrap">700,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5061.73px;left:9513.52px;letter-spacing:-1.7px;white-space:nowrap">711,704</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5345.5px;left:9368.2px;white-space:nowrap">3,810,319</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5643.82px;left:432px;white-space:nowrap">Food </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5643.82px;left:867.39px;white-space:nowrap">Products </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5643.82px;left:1605.28px;white-space:nowrap">2.0%</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:5843.52px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5840.31px;left:432px;white-space:nowrap">Chobani</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5840.31px;left:1072.47px;white-space:nowrap">LLC </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5840.31px;left:1410.44px;white-space:nowrap">/ </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5840.31px;left:1499.34px;white-space:nowrap">Chobani</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5840.31px;left:2139.81px;white-space:nowrap">Finance </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5840.31px;left:2753.48px;white-space:nowrap">Corp., </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5840.31px;left:3233.64px;white-space:nowrap">Inc.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5840.31px;left:3491.53px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5840.31px;left:3580.44px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5840.31px;left:4087.39px;white-space:nowrap">Secured </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5840.31px;left:4727.78px;white-space:nowrap">Note</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5840.31px;left:5065.75px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6032.31px;left:576px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6032.31px;left:1038.58px;white-space:nowrap">4.625</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6032.31px;left:1438.97px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6032.31px;left:1581.23px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6032.31px;left:1670.14px;letter-spacing:-1.48px;white-space:nowrap">11/15/28</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6032.31px;left:2300.26px;letter-spacing:51.64px;white-space:nowrap">...............................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6032.31px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6032.31px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6032.31px;left:7485.64px;white-space:nowrap">800,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6032.31px;left:9501.64px;white-space:nowrap">828,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6228.79px;left:432px;white-space:nowrap">Kraft </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6228.79px;left:814.34px;white-space:nowrap">Heinz </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6228.79px;left:1267.86px;white-space:nowrap">Foods </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6228.79px;left:1757px;white-space:nowrap">Co.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6228.79px;left:2005.98px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6228.79px;left:2094.89px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6228.79px;left:2601.84px;white-space:nowrap">Bond</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6228.79px;left:2975.52px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6228.79px;left:3064.42px;white-space:nowrap">4.25</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6228.79px;left:3375.83px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6228.79px;left:3518.09px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6228.79px;left:3607px;white-space:nowrap">3/01/31</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6228.79px;left:4168.52px;letter-spacing:56.5px;white-space:nowrap">...........</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6243.35px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6243.35px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6243.35px;left:7485.64px;white-space:nowrap">800,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6243.35px;left:9501.64px;white-space:nowrap">899,268</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:6443.05px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6454.4px;left:432px;white-space:nowrap">Post </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6454.4px;left:796.61px;white-space:nowrap">Holdings, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6454.4px;left:1508.09px;white-space:nowrap">Inc.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6454.4px;left:1765.98px;white-space:nowrap">,</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6650.88px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6650.88px;left:1082.95px;white-space:nowrap">Bond, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6650.88px;left:1545.53px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6650.88px;left:2008.11px;white-space:nowrap">5%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6650.88px;left:2328.27px;white-space:nowrap">8/15/26 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6650.88px;left:2954.15px;letter-spacing:52.42px;white-space:nowrap">........................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6650.88px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6650.88px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6650.88px;left:7485.64px;white-space:nowrap">700,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6650.88px;left:9501.64px;white-space:nowrap">730,887</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6847.37px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6847.37px;left:1082.95px;white-space:nowrap">Bond, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6847.37px;left:1545.53px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6847.37px;left:2008.11px;white-space:nowrap">5.625%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6847.37px;left:2639.67px;white-space:nowrap">1/15/28 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6847.37px;left:3234.39px;letter-spacing:52.91px;white-space:nowrap">.....................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6847.37px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6847.37px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6847.37px;left:7485.64px;white-space:nowrap">300,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6847.37px;left:9501.64px;white-space:nowrap">315,480</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7043.85px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7043.85px;left:1082.95px;white-space:nowrap">Bond, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7043.85px;left:1545.53px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7043.85px;left:2008.11px;white-space:nowrap">4.625%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7043.85px;left:2639.67px;white-space:nowrap">4/15/30 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7043.85px;left:3234.39px;letter-spacing:52.91px;white-space:nowrap">.....................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7043.85px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7043.85px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7043.85px;left:7485.64px;white-space:nowrap">500,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7043.85px;left:9501.64px;white-space:nowrap">508,125</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7240.34px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7240.34px;left:1082.95px;white-space:nowrap">Bond, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7240.34px;left:1545.53px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7240.34px;left:2008.11px;white-space:nowrap">4.5%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7240.34px;left:2461.7px;white-space:nowrap">9/15/31 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7240.34px;left:3047.57px;letter-spacing:52.57px;white-space:nowrap">.......................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7240.34px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7240.34px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7240.34px;left:7485.64px;white-space:nowrap">900,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7240.34px;left:9501.64px;white-space:nowrap">898,313</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7524.1px;left:9368.2px;white-space:nowrap">4,180,073</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:7822.43px;left:432px;white-space:nowrap">Health </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:7822.43px;left:965.44px;white-space:nowrap">Care </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:7822.43px;left:1365.67px;white-space:nowrap">Equipment </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:7822.43px;left:2236.77px;white-space:nowrap">&amp; </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:7822.43px;left:2396.77px;white-space:nowrap">Supplies </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:7822.43px;left:3108.02px;white-space:nowrap">0.1%</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:8022.12px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8018.91px;left:432px;white-space:nowrap">Ortho-Clinical </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8018.91px;left:1445.59px;white-space:nowrap">Diagnostics, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8018.91px;left:2361.53px;white-space:nowrap">Inc. </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8018.91px;left:2663.88px;white-space:nowrap">/ </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8018.91px;left:2752.78px;white-space:nowrap">Ortho-Clinical </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8018.91px;left:3766.38px;white-space:nowrap">Diagnostics </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8018.91px;left:4637.86px;white-space:nowrap">SA</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8018.91px;left:4851.3px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8210.91px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8210.91px;left:1082.95px;white-space:nowrap">Note</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8210.91px;left:1420.92px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8210.91px;left:1509.83px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8210.91px;left:1972.41px;white-space:nowrap">7.375</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8210.91px;left:2372.8px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8210.91px;left:2515.06px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8210.91px;left:2603.97px;white-space:nowrap">6/01/25</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8210.91px;left:3140.98px;letter-spacing:52.73px;white-space:nowrap">......................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8210.91px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8210.91px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8210.91px;left:7485.64px;white-space:nowrap">180,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8210.91px;left:9501.64px;white-space:nowrap">193,163</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8509.24px;left:432px;white-space:nowrap">Health </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8509.24px;left:965.44px;white-space:nowrap">Care </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8509.24px;left:1365.67px;white-space:nowrap">Providers </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8509.24px;left:2148.25px;white-space:nowrap">&amp; </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8509.24px;left:2308.25px;white-space:nowrap">Services </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8509.24px;left:3011.06px;white-space:nowrap">4.2%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8720.28px;left:432px;white-space:nowrap">Centene</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8720.28px;left:1081.38px;white-space:nowrap">Corp.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8720.28px;left:1472.63px;white-space:nowrap">,</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8916.76px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8916.76px;left:1082.95px;white-space:nowrap">Bond, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8916.76px;left:1545.53px;white-space:nowrap">2.5%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8916.76px;left:1999.13px;white-space:nowrap">3/01/31 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8916.76px;left:2580.5px;letter-spacing:51.92px;white-space:nowrap">............................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8916.76px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8916.76px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8916.76px;left:7485.64px;white-space:nowrap">500,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8916.76px;left:9501.64px;white-space:nowrap">484,225</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:9116.46px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9113.25px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9113.25px;left:1082.95px;white-space:nowrap">Note, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9113.25px;left:1509.83px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9113.25px;left:1972.41px;white-space:nowrap">5.375%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9113.25px;left:2603.97px;white-space:nowrap">8/15/26 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9113.25px;left:3234.39px;letter-spacing:52.91px;white-space:nowrap">.....................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9113.25px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9113.25px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9113.25px;left:7485.64px;white-space:nowrap">500,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9113.25px;left:9501.64px;white-space:nowrap">527,500</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:9312.94px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9324.29px;left:432px;white-space:nowrap">CHS/Community </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9324.29px;left:1667.78px;white-space:nowrap">Health </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9324.29px;left:2174.73px;white-space:nowrap">Systems, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9324.29px;left:2877.08px;white-space:nowrap">Inc.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9324.29px;left:3134.97px;white-space:nowrap">,</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9520.78px;left:576px;white-space:nowrap">Secured </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9520.78px;left:1216.39px;white-space:nowrap">Note, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9520.78px;left:1643.27px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9520.78px;left:2105.84px;white-space:nowrap">8.125%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9520.78px;left:2737.41px;white-space:nowrap">6/30/24 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9520.78px;left:3327.81px;letter-spacing:53.11px;white-space:nowrap">....................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9520.78px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9520.78px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9520.78px;left:7485.64px;white-space:nowrap">718,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9520.78px;left:9501.64px;white-space:nowrap">750,310</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9717.26px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9717.26px;left:1082.95px;white-space:nowrap">Secured </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9717.26px;left:1723.34px;white-space:nowrap">Note, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9717.26px;left:2150.22px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9717.26px;left:2612.8px;white-space:nowrap">6.625%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9717.26px;left:3244.36px;white-space:nowrap">2/15/25 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9717.26px;left:3888.29px;letter-spacing:54.89px;white-space:nowrap">..............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9717.26px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9717.26px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9717.26px;left:7485.64px;white-space:nowrap">500,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9717.26px;left:9501.64px;white-space:nowrap">526,751</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9913.75px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9913.75px;left:1082.95px;white-space:nowrap">Secured </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9913.75px;left:1723.34px;white-space:nowrap">Note, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9913.75px;left:2150.22px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9913.75px;left:2612.8px;white-space:nowrap">6%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9913.75px;left:2932.95px;white-space:nowrap">1/15/29 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9913.75px;left:3514.63px;letter-spacing:53.57px;white-space:nowrap">..................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9913.75px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9913.75px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9913.75px;left:7485.64px;white-space:nowrap">300,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9913.75px;left:9501.64px;white-space:nowrap">318,375</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:10113.44px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10110.23px;left:432px;letter-spacing:-0.36px;white-space:nowrap">DaVita, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10110.23px;left:998.25px;white-space:nowrap">Inc.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10110.23px;left:1256.14px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10110.23px;left:1345.05px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10110.23px;left:1852px;white-space:nowrap">Note</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10110.23px;left:2189.97px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10110.23px;left:2278.88px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10110.23px;left:2741.45px;white-space:nowrap">4.625</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10110.23px;left:3141.84px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10110.23px;left:3284.11px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10110.23px;left:3373.02px;white-space:nowrap">6/01/30</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10110.23px;left:3981.7px;letter-spacing:55.34px;white-space:nowrap">.............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10110.23px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10110.23px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10110.23px;left:7485.64px;white-space:nowrap">700,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10110.23px;left:9501.64px;white-space:nowrap">712,687</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10321.28px;left:432px;white-space:nowrap">HCA, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10321.28px;left:858.72px;white-space:nowrap">Inc.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10321.28px;left:1116.61px;white-space:nowrap">,</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10517.76px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10517.76px;left:1082.95px;white-space:nowrap">Bond, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10517.76px;left:1545.53px;white-space:nowrap">5.875%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10517.76px;left:2177.09px;white-space:nowrap">2/15/26 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10517.76px;left:2767.33px;letter-spacing:52.15px;white-space:nowrap">..........................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10517.76px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10517.76px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10517.76px;left:7352.2px;white-space:nowrap">1,400,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10517.76px;left:9368.2px;white-space:nowrap">1,620,080</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10714.25px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10714.25px;left:1082.95px;white-space:nowrap">Bond, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10714.25px;left:1545.53px;white-space:nowrap">3.5%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10714.25px;left:1999.13px;white-space:nowrap">9/01/30 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10714.25px;left:2580.5px;letter-spacing:51.92px;white-space:nowrap">............................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10714.25px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10714.25px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10714.25px;left:7485.64px;white-space:nowrap">700,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10714.25px;left:9501.64px;white-space:nowrap">729,174</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:10913.94px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10910.73px;left:432px;white-space:nowrap">MEDNAX, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10910.73px;left:1205.44px;white-space:nowrap">Inc.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10910.73px;left:1463.33px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10910.73px;left:1552.23px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10910.73px;left:2059.19px;white-space:nowrap">Note</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10910.73px;left:2397.16px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10910.73px;left:2486.06px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10910.73px;left:2948.64px;white-space:nowrap">6.25</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10910.73px;left:3260.05px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10910.73px;left:3402.31px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10910.73px;left:3491.22px;white-space:nowrap">1/15/27</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10910.73px;left:4075.11px;letter-spacing:55.87px;white-space:nowrap">............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10910.73px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10910.73px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10910.73px;left:7485.64px;white-space:nowrap">400,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10910.73px;left:9501.64px;white-space:nowrap">422,992</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:11110.42px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11107.21px;left:432px;white-space:nowrap">ModivCare</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11107.21px;left:1205.59px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11107.21px;left:1294.5px;white-space:nowrap">Inc.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11107.21px;left:1552.39px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11107.21px;left:1641.3px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11107.21px;left:2148.25px;white-space:nowrap">Note</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11107.21px;left:2486.22px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11107.21px;left:2575.13px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11107.21px;left:3037.7px;white-space:nowrap">5.875</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11107.21px;left:3438.09px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11107.21px;left:3580.36px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11107.21px;left:3669.27px;letter-spacing:-1.48px;white-space:nowrap">11/15/25</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11107.21px;left:4355.35px;letter-spacing:58.18px;white-space:nowrap">.........</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11107.21px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11107.21px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11107.21px;left:7352.2px;white-space:nowrap">1,500,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11107.21px;left:9368.2px;white-space:nowrap">1,592,813</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:11306.91px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11303.7px;left:432px;letter-spacing:-2.96px;white-space:nowrap">Tenet </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11303.7px;left:867.86px;white-space:nowrap">Healthcare </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11303.7px;left:1686.06px;white-space:nowrap">Corp.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11303.7px;left:2077.31px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11303.7px;left:2166.22px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11303.7px;left:2673.17px;white-space:nowrap">Note</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11303.7px;left:3011.14px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11303.7px;left:3100.05px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11303.7px;left:3562.63px;white-space:nowrap">6.125</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11303.7px;left:3963.02px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11303.7px;left:4105.28px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11303.7px;left:4194.19px;white-space:nowrap">10/01/28</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11303.7px;left:4822.42px;letter-spacing:69.7px;white-space:nowrap">....</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11303.7px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11303.7px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11303.7px;left:7352.2px;white-space:nowrap">1,000,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11303.7px;left:9368.2px;white-space:nowrap">1,053,950</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11587.46px;left:9368.2px;white-space:nowrap">8,738,857</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: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:80px;position:absolute;top:280.75px;left:0px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:80px;position:absolute;top:280.75px;left:432px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:213.02px;left:6010.72px;white-space:nowrap">Country</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:80px;position:absolute;top:280.75px;left:8451.51px;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">Corporate </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:499.31px;left:1443.23px;white-space:nowrap">Bonds </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:533.18px;left:2120.96px;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">Hotels, </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:744.23px;left:1009.89px;white-space:nowrap">Restaurants </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:744.23px;left:1979.11px;white-space:nowrap">&amp; </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:744.23px;left:2139.11px;white-space:nowrap">Leisure </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:744.23px;left:2752.7px;white-space:nowrap">6.9%</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:943.92px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:940.71px;left:432px;letter-spacing:-1.48px;white-space:nowrap">1011778 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:940.71px;left:1087.47px;white-space:nowrap">BC </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:940.71px;left:1354.19px;white-space:nowrap">ULC </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:940.71px;left:1718.72px;white-space:nowrap">/ </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:940.71px;left:1807.63px;white-space:nowrap">New </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:940.71px;left:2172.16px;white-space:nowrap">Red </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:940.71px;left:2510.13px;white-space:nowrap">Finance, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:940.71px;left:3168.25px;white-space:nowrap">Inc.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:940.71px;left:3426.14px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:940.71px;left:3515.05px;white-space:nowrap">Secured </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:940.71px;left:4155.44px;white-space:nowrap">Bond</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:940.71px;left:4529.11px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:940.71px;left:4618.02px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1132.71px;left:576px;white-space:nowrap">4</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1132.71px;left:664.98px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1132.71px;left:807.25px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1132.71px;left:896.16px;white-space:nowrap">10/15/30</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1132.71px;left:1552.96px;letter-spacing:51.09px;white-space:nowrap">.......................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1132.71px;left:6063.53px;white-space:nowrap">Canada</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1132.71px;left:7352.2px;white-space:nowrap">1,000,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1132.71px;left:9412.66px;white-space:nowrap">$</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1132.71px;left:9501.64px;white-space:nowrap">976,450</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:1332.41px;left:328.29px;white-space:nowrap">f,g</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1329.2px;left:432px;white-space:nowrap">24 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1329.2px;left:654.42px;white-space:nowrap">Hour </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1329.2px;left:1045.67px;white-space:nowrap">Fitness </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1329.2px;left:1605.83px;letter-spacing:-0.26px;white-space:nowrap">Worldwide, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1329.2px;left:2438.72px;white-space:nowrap">Inc.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1329.2px;left:2696.61px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1329.2px;left:2785.52px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1329.2px;left:3292.47px;white-space:nowrap">Note</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1329.2px;left:3630.44px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1329.2px;left:3719.34px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1329.2px;left:4181.92px;white-space:nowrap">8</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1329.2px;left:4270.91px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1329.2px;left:4413.17px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1329.2px;left:4502.08px;white-space:nowrap">6/01/22</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1329.2px;left:5102.66px;letter-spacing:131.93px;white-space:nowrap">.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1329.2px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1329.2px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1329.2px;left:7352.2px;white-space:nowrap">1,800,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1329.2px;left:9813.05px;white-space:nowrap">540</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:1528.89px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1525.68px;left:432px;white-space:nowrap">Boyd </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1525.68px;left:841.14px;white-space:nowrap">Gaming </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1525.68px;left:1445.83px;white-space:nowrap">Corp.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1525.68px;left:1837.08px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1525.68px;left:1925.98px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1525.68px;left:2432.94px;white-space:nowrap">Note</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1525.68px;left:2770.91px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1525.68px;left:2859.81px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1525.68px;left:3322.39px;white-space:nowrap">8.625</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1525.68px;left:3722.78px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1525.68px;left:3865.05px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1525.68px;left:3953.95px;white-space:nowrap">6/01/25</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1525.68px;left:4542.18px;letter-spacing:60.81px;white-space:nowrap">.......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1525.68px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1525.68px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1525.68px;left:7352.2px;white-space:nowrap">1,300,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1525.68px;left:9368.2px;white-space:nowrap">1,431,625</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:1725.37px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1722.16px;left:432px;white-space:nowrap">Boyne </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1722.16px;left:930.13px;white-space:nowrap">USA, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1722.16px;left:1348.02px;white-space:nowrap">Inc.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1722.16px;left:1605.91px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1722.16px;left:1694.81px;white-space:nowrap">Secured </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1722.16px;left:2335.2px;white-space:nowrap">Note</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1722.16px;left:2673.17px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1722.16px;left:2762.08px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1722.16px;left:3224.66px;white-space:nowrap">7.25</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1722.16px;left:3536.06px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1722.16px;left:3678.33px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1722.16px;left:3767.23px;white-space:nowrap">5/01/25</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1722.16px;left:4355.35px;letter-spacing:58.18px;white-space:nowrap">.........</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1722.16px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1722.16px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1722.16px;left:7352.2px;white-space:nowrap">1,500,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1722.16px;left:9368.2px;white-space:nowrap">1,565,017</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:1921.86px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1918.65px;left:432px;white-space:nowrap">Caesars </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1918.65px;left:1072.23px;white-space:nowrap">Entertainment, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1918.65px;left:2157.23px;white-space:nowrap">Inc.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1918.65px;left:2415.13px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1918.65px;left:2504.03px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1918.65px;left:3010.98px;white-space:nowrap">Secured </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1918.65px;left:3651.38px;white-space:nowrap">Note</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1918.65px;left:3989.34px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1918.65px;left:4078.25px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1918.65px;left:4540.83px;white-space:nowrap">6.25</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1918.65px;left:4852.23px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1918.65px;left:4994.5px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2110.65px;left:576px;white-space:nowrap">7/01/25</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2110.65px;left:1179.3px;letter-spacing:50.89px;white-space:nowrap">...........................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2110.65px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2110.65px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2110.65px;left:7485.64px;white-space:nowrap">900,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2110.65px;left:9501.64px;white-space:nowrap">954,000</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:2310.34px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2307.13px;left:432px;white-space:nowrap">Caesars </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2307.13px;left:1072.23px;white-space:nowrap">Resort </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2307.13px;left:1587.94px;white-space:nowrap">Collection </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2307.13px;left:2334.97px;white-space:nowrap">LLC </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2307.13px;left:2672.94px;white-space:nowrap">/ </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2307.13px;left:2761.84px;white-space:nowrap">CRC </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2307.13px;left:3152.94px;white-space:nowrap">Finco</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2307.13px;left:3544.19px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2307.13px;left:3633.09px;white-space:nowrap">Inc.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2307.13px;left:3890.98px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2307.13px;left:3979.89px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2307.13px;left:4486.84px;white-space:nowrap">Secured </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2499.13px;left:576px;white-space:nowrap">Note</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2499.13px;left:913.97px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2499.13px;left:1002.88px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2499.13px;left:1465.45px;white-space:nowrap">5.75</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2499.13px;left:1776.86px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2499.13px;left:1919.13px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2499.13px;left:2008.03px;white-space:nowrap">7/01/25</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2499.13px;left:2580.5px;letter-spacing:51.92px;white-space:nowrap">............................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2499.13px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2499.13px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2499.13px;left:7485.64px;white-space:nowrap">400,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2499.13px;left:9501.64px;white-space:nowrap">420,500</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:2698.83px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2710.18px;left:432px;white-space:nowrap">Carnival </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2710.18px;left:1063.33px;white-space:nowrap">Corp.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2710.18px;left:1454.58px;white-space:nowrap">,</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2906.66px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2906.66px;left:1082.95px;white-space:nowrap">Note, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2906.66px;left:1509.83px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2906.66px;left:1972.41px;white-space:nowrap">7.625%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2906.66px;left:2603.97px;white-space:nowrap">3/01/26 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2906.66px;left:3234.39px;letter-spacing:52.91px;white-space:nowrap">.....................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2906.66px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2906.66px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2906.66px;left:7485.64px;white-space:nowrap">400,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2906.66px;left:9501.64px;white-space:nowrap">421,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3103.15px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3103.15px;left:1082.95px;white-space:nowrap">Note, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3103.15px;left:1509.83px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3103.15px;left:1972.41px;white-space:nowrap">5.75%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3103.15px;left:2514.98px;white-space:nowrap">3/01/27 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3103.15px;left:3140.98px;letter-spacing:52.73px;white-space:nowrap">......................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3103.15px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3103.15px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3103.15px;left:7352.2px;white-space:nowrap">1,500,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3103.15px;left:9368.2px;white-space:nowrap">1,524,600</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:3302.84px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3299.63px;left:432px;white-space:nowrap">Downstream </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3299.63px;left:1374.5px;white-space:nowrap">Development </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3299.63px;left:2352.86px;white-space:nowrap">Authority </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3299.63px;left:3028.72px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3299.63px;left:3206.61px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3299.63px;left:3473.48px;white-space:nowrap">Quapaw </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3299.63px;left:4110.98px;letter-spacing:-0.99px;white-space:nowrap">Tribe </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3299.63px;left:4514.03px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3491.63px;left:576px;white-space:nowrap">Oklahoma</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3491.63px;left:1305.22px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3491.63px;left:1394.13px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3491.63px;left:1901.08px;white-space:nowrap">Secured </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3491.63px;left:2541.47px;white-space:nowrap">Note</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3491.63px;left:2879.44px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3491.63px;left:2968.34px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3491.63px;left:3430.92px;white-space:nowrap">10.5</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3491.63px;left:3742.33px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3491.63px;left:3884.59px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3491.63px;left:3973.5px;white-space:nowrap">2/15/23</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3491.63px;left:4542.18px;letter-spacing:60.81px;white-space:nowrap">.......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3491.63px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3491.63px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3491.63px;left:7352.2px;white-space:nowrap">1,500,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3491.63px;left:9368.2px;white-space:nowrap">1,535,467</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:3691.33px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3688.12px;left:432px;white-space:nowrap">Genting </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3688.12px;left:1036.84px;white-space:nowrap">New </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3688.12px;left:1398.48px;letter-spacing:-2.94px;white-space:nowrap">York </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3688.12px;left:1757.23px;white-space:nowrap">LLC </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3688.12px;left:2095.2px;white-space:nowrap">/ </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3688.12px;left:2184.11px;letter-spacing:-0.48px;white-space:nowrap">GENNY </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3688.12px;left:2794.66px;white-space:nowrap">Capital, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3688.12px;left:3381.61px;white-space:nowrap">Inc.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3688.12px;left:3639.5px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3688.12px;left:3728.41px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3688.12px;left:4235.36px;white-space:nowrap">Note</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3688.12px;left:4573.33px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3688.12px;left:4662.23px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3880.12px;left:576px;white-space:nowrap">3.3</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3880.12px;left:798.42px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3880.12px;left:940.69px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3880.12px;left:1029.59px;white-space:nowrap">2/15/26</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3880.12px;left:1646.37px;letter-spacing:51.14px;white-space:nowrap">......................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3880.12px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3880.12px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3880.12px;left:7485.64px;white-space:nowrap">400,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3880.12px;left:9501.64px;white-space:nowrap">402,048</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:4079.81px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4076.6px;left:432px;white-space:nowrap">Golden </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4076.6px;left:992.39px;white-space:nowrap">Nugget, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4076.6px;left:1597.23px;white-space:nowrap">Inc.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4076.6px;left:1855.13px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4076.6px;left:1944.03px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4076.6px;left:2450.98px;white-space:nowrap">Note</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4076.6px;left:2788.95px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4076.6px;left:2877.86px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4076.6px;left:3340.44px;white-space:nowrap">6.75</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4076.6px;left:3651.84px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4076.6px;left:3794.11px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4076.6px;left:3883.02px;white-space:nowrap">10/15/24</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4076.6px;left:4542.18px;letter-spacing:60.81px;white-space:nowrap">.......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4076.6px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4076.6px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4076.6px;left:7352.2px;white-space:nowrap">1,300,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4076.6px;left:9368.2px;white-space:nowrap">1,323,569</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:4276.29px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4273.08px;left:432px;white-space:nowrap">International </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4273.08px;left:1357.08px;white-space:nowrap">Game </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4273.08px;left:1834.34px;letter-spacing:-1.61px;white-space:nowrap">Technology </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4273.08px;left:2688.25px;white-space:nowrap">plc</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4273.08px;left:2892.78px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4273.08px;left:2981.69px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4273.08px;left:3488.64px;white-space:nowrap">Secured </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4273.08px;left:4129.03px;white-space:nowrap">Note</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4273.08px;left:4467px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4273.08px;left:4555.91px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4465.08px;left:576px;white-space:nowrap">5.25</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4465.08px;left:887.41px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4465.08px;left:1029.67px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4465.08px;left:1118.58px;white-space:nowrap">1/15/29</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4465.08px;left:1739.78px;letter-spacing:51.2px;white-space:nowrap">.....................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4465.08px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4465.08px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4465.08px;left:7485.64px;white-space:nowrap">400,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4465.08px;left:9501.64px;white-space:nowrap">424,142</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:4664.78px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4661.57px;left:432px;letter-spacing:-1.48px;white-space:nowrap">NCL </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4661.57px;left:790.59px;white-space:nowrap">Corp. </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4661.57px;left:1226.3px;white-space:nowrap">Ltd.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4661.57px;left:1493.17px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4661.57px;left:1582.08px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4661.57px;left:2089.03px;white-space:nowrap">Note</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4661.57px;left:2427px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4661.57px;left:2515.91px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4661.57px;left:2978.48px;white-space:nowrap">5.875</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4661.57px;left:3378.88px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4661.57px;left:3521.14px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4661.57px;left:3610.05px;white-space:nowrap">3/15/26</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4661.57px;left:4168.52px;letter-spacing:56.5px;white-space:nowrap">...........</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4661.57px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4661.57px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4661.57px;left:7485.64px;white-space:nowrap">300,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4661.57px;left:9501.64px;white-space:nowrap">302,003</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:4861.26px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4858.05px;left:432px;white-space:nowrap">Six </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4858.05px;left:698.72px;white-space:nowrap">Flags </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4858.05px;left:1131.53px;white-space:nowrap">Theme </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4858.05px;left:1673.95px;white-space:nowrap">Parks, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4858.05px;left:2171.84px;white-space:nowrap">Inc.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4858.05px;left:2429.73px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4858.05px;left:2518.64px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4858.05px;left:3025.59px;white-space:nowrap">Secured </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4858.05px;left:3665.98px;white-space:nowrap">Note</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4858.05px;left:4003.95px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4858.05px;left:4092.86px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4858.05px;left:4555.44px;white-space:nowrap">7</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4858.05px;left:4644.42px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4858.05px;left:4786.69px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5050.05px;left:576px;white-space:nowrap">7/01/25</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5050.05px;left:1179.3px;letter-spacing:50.89px;white-space:nowrap">...........................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5050.05px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5050.05px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5050.05px;left:7485.64px;white-space:nowrap">400,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5050.05px;left:9501.64px;white-space:nowrap">431,962</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:5249.75px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5246.54px;left:432px;white-space:nowrap">Studio </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5246.54px;left:930.13px;white-space:nowrap">City </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5246.54px;left:1250.13px;white-space:nowrap">Finance </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5246.54px;left:1863.8px;white-space:nowrap">Ltd.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5246.54px;left:2130.67px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5246.54px;left:2219.58px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5246.54px;left:2726.53px;white-space:nowrap">Note</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5246.54px;left:3064.5px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5246.54px;left:3153.41px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5246.54px;left:3615.98px;white-space:nowrap">5</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5246.54px;left:3704.97px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5246.54px;left:3847.23px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5246.54px;left:3936.14px;white-space:nowrap">1/15/29</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5246.54px;left:4542.18px;letter-spacing:60.81px;white-space:nowrap">.......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5246.54px;left:6143.77px;white-space:nowrap">Macau</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5246.54px;left:7485.64px;white-space:nowrap">600,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5246.54px;left:9501.64px;white-space:nowrap">608,250</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:5446.23px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5443.02px;left:432px;letter-spacing:-2.37px;white-space:nowrap">Vail </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5443.02px;left:731.38px;white-space:nowrap">Resorts, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5443.02px;left:1371.53px;white-space:nowrap">Inc.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5443.02px;left:1629.42px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5443.02px;left:1718.33px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5443.02px;left:2225.28px;white-space:nowrap">Note</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5443.02px;left:2563.25px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5443.02px;left:2652.16px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5443.02px;left:3114.73px;white-space:nowrap">6.25</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5443.02px;left:3426.14px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5443.02px;left:3568.41px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5443.02px;left:3657.31px;white-space:nowrap">5/15/25</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5443.02px;left:4261.94px;letter-spacing:57.26px;white-space:nowrap">..........</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5443.02px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5443.02px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5443.02px;left:7485.64px;white-space:nowrap">300,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5443.02px;left:9501.64px;white-space:nowrap">320,745</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:5642.72px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5639.51px;left:432px;letter-spacing:-0.28px;white-space:nowrap">Wynn </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5639.51px;left:884.03px;white-space:nowrap">Macau </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5639.51px;left:1408.72px;white-space:nowrap">Ltd.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5639.51px;left:1675.59px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5639.51px;left:1764.5px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5639.51px;left:2271.45px;white-space:nowrap">Note</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5639.51px;left:2609.42px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5639.51px;left:2698.33px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5639.51px;left:3160.91px;white-space:nowrap">5.625</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5639.51px;left:3561.3px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5639.51px;left:3703.56px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5639.51px;left:3792.47px;white-space:nowrap">8/26/28</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5639.51px;left:4355.35px;letter-spacing:58.18px;white-space:nowrap">.........</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5639.51px;left:6143.77px;white-space:nowrap">Macau</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5639.51px;left:7485.64px;white-space:nowrap">500,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5639.51px;left:9501.64px;white-space:nowrap">520,938</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:5839.2px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5835.99px;left:432px;letter-spacing:-0.28px;white-space:nowrap">Wynn </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5835.99px;left:884.03px;white-space:nowrap">Resorts </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5835.99px;left:1479.73px;white-space:nowrap">Finance </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5835.99px;left:2093.41px;white-space:nowrap">LLC </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5835.99px;left:2431.38px;white-space:nowrap">/ </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5835.99px;left:2520.28px;letter-spacing:-0.28px;white-space:nowrap">Wynn </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5835.99px;left:2972.31px;white-space:nowrap">Resorts </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5835.99px;left:3568.02px;white-space:nowrap">Capital </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5835.99px;left:4110.52px;white-space:nowrap">Corp.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5835.99px;left:4501.77px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5835.99px;left:4590.67px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6027.99px;left:576px;white-space:nowrap">Note</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6027.99px;left:913.97px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6027.99px;left:1002.88px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6027.99px;left:1465.45px;white-space:nowrap">7.75</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6027.99px;left:1776.86px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6027.99px;left:1919.13px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6027.99px;left:2008.03px;white-space:nowrap">4/15/25</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6027.99px;left:2580.5px;letter-spacing:51.92px;white-space:nowrap">............................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6027.99px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6027.99px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6027.99px;left:7352.2px;white-space:nowrap">1,200,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6027.99px;left:9368.2px;white-space:nowrap">1,303,698</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6311.75px;left:9279.22px;white-space:nowrap">14,466,554</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6610.08px;left:432px;white-space:nowrap">Household </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6610.08px;left:1303.09px;white-space:nowrap">Durables </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6610.08px;left:2032.23px;white-space:nowrap">1.5%</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:6809.77px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6806.56px;left:432px;white-space:nowrap">Ashton </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6806.56px;left:974.58px;letter-spacing:-0.48px;white-space:nowrap">Woods </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6806.56px;left:1514.11px;letter-spacing:-2.21px;white-space:nowrap">USA </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6806.56px;left:1878.72px;white-space:nowrap">LLC </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6806.56px;left:2216.69px;white-space:nowrap">/ </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6806.56px;left:2296.77px;white-space:nowrap">Ashton </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6806.56px;left:2839.34px;letter-spacing:-0.48px;white-space:nowrap">Woods </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6806.56px;left:3378.88px;white-space:nowrap">Finance </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6806.56px;left:3992.55px;white-space:nowrap">Co.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6806.56px;left:4241.53px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6806.56px;left:4330.44px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6806.56px;left:4837.39px;white-space:nowrap">Note</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6806.56px;left:5175.36px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6998.56px;left:576px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6998.56px;left:1038.58px;white-space:nowrap">6.75</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6998.56px;left:1349.98px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6998.56px;left:1492.25px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6998.56px;left:1581.16px;white-space:nowrap">8/01/25</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6998.56px;left:2114.98px;letter-spacing:51.47px;white-space:nowrap">.................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6998.56px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6998.56px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6998.56px;left:7352.2px;white-space:nowrap">1,500,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6998.56px;left:9368.2px;white-space:nowrap">1,554,217</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:7198.26px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7195.05px;left:432px;letter-spacing:-2.53px;white-space:nowrap">Taylor </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7195.05px;left:903.25px;white-space:nowrap">Morrison </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7195.05px;left:1570.05px;white-space:nowrap">Communities, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7195.05px;left:2592.55px;white-space:nowrap">Inc. </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7195.05px;left:2894.89px;white-space:nowrap">/ </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7195.05px;left:2980.91px;letter-spacing:-2.53px;white-space:nowrap">Taylor </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7195.05px;left:3452.16px;white-space:nowrap">Morrison </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7195.05px;left:4118.95px;white-space:nowrap">Holdings </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7195.05px;left:4785.98px;white-space:nowrap">II, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7195.05px;left:4963.8px;white-space:nowrap">Inc.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7195.05px;left:5221.69px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7387.05px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7387.05px;left:1082.95px;white-space:nowrap">Note</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7387.05px;left:1420.92px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7387.05px;left:1509.83px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7387.05px;left:1972.41px;white-space:nowrap">5.625</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7387.05px;left:2372.8px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7387.05px;left:2515.06px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7387.05px;left:2603.97px;white-space:nowrap">3/01/24</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7387.05px;left:3140.98px;letter-spacing:52.73px;white-space:nowrap">......................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7387.05px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7387.05px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7387.05px;left:7485.64px;white-space:nowrap">400,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7387.05px;left:9501.64px;white-space:nowrap">433,204</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7583.53px;left:432px;letter-spacing:-3.55px;white-space:nowrap">Toll </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7583.53px;left:716.53px;white-space:nowrap">Brothers </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7583.53px;left:1365.67px;white-space:nowrap">Finance </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7583.53px;left:1979.34px;white-space:nowrap">Corp.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7583.53px;left:2370.59px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7583.53px;left:2459.5px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7583.53px;left:2966.45px;white-space:nowrap">Bond</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7583.53px;left:3340.13px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7583.53px;left:3429.03px;white-space:nowrap">5.625</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7583.53px;left:3829.42px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7583.53px;left:3971.69px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7583.53px;left:4060.59px;white-space:nowrap">1/15/24</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7583.53px;left:4635.59px;letter-spacing:62.79px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7598.09px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7598.09px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7598.09px;left:7485.64px;white-space:nowrap">700,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7598.09px;left:9501.64px;white-space:nowrap">789,390</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:7797.79px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7794.58px;left:432px;white-space:nowrap">Williams </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7794.58px;left:1071.92px;white-space:nowrap">Scotsman </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7794.58px;left:1827.78px;white-space:nowrap">International, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7794.58px;left:2797.31px;white-space:nowrap">Inc.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7794.58px;left:3055.2px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7794.58px;left:3144.11px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7794.58px;left:3651.06px;white-space:nowrap">Secured </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7794.58px;left:4291.45px;white-space:nowrap">Note</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7794.58px;left:4629.42px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7794.58px;left:4718.33px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7986.58px;left:576px;white-space:nowrap">4.625</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7986.58px;left:976.39px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7986.58px;left:1118.66px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7986.58px;left:1207.56px;white-space:nowrap">8/15/28</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7986.58px;left:1741.39px;letter-spacing:51.2px;white-space:nowrap">.....................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7986.58px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7986.58px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7986.58px;left:7485.64px;white-space:nowrap">300,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7986.58px;left:9501.64px;white-space:nowrap">308,813</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8270.34px;left:9368.2px;white-space:nowrap">3,085,624</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8568.67px;left:432px;white-space:nowrap">Household </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8568.67px;left:1303.09px;white-space:nowrap">Products </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8568.67px;left:2040.98px;white-space:nowrap">0.3%</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:8768.36px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8765.15px;left:432px;white-space:nowrap">Spectrum </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8765.15px;left:1161.14px;white-space:nowrap">Brands, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8765.15px;left:1757px;white-space:nowrap">Inc.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8765.15px;left:2014.89px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8765.15px;left:2103.8px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8765.15px;left:2610.75px;white-space:nowrap">Bond</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8765.15px;left:2984.42px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8765.15px;left:3073.33px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8765.15px;left:3535.91px;white-space:nowrap">3.875</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8765.15px;left:3936.3px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8765.15px;left:4078.56px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8765.15px;left:4167.47px;white-space:nowrap">3/15/31</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8765.15px;left:4729px;letter-spacing:65.55px;white-space:nowrap">.....</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8765.15px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8765.15px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8765.15px;left:7485.64px;white-space:nowrap">600,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8765.15px;left:9501.64px;white-space:nowrap">594,594</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:9063.48px;left:432px;white-space:nowrap">Independent </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:9063.48px;left:1427.55px;white-space:nowrap">Power </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:9063.48px;left:1952.16px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:9063.48px;left:2281.06px;white-space:nowrap">Renewable </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:9063.48px;left:3161.38px;white-space:nowrap">Electricity </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:9063.48px;left:3970.67px;white-space:nowrap">Producers </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:9063.48px;left:4806.53px;white-space:nowrap">3.4%</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:9263.17px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9274.52px;left:432px;white-space:nowrap">Calpine </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9274.52px;left:1019.03px;white-space:nowrap">Corp.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9274.52px;left:1410.28px;white-space:nowrap">,</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9471.01px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9471.01px;left:1082.95px;white-space:nowrap">Bond, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9471.01px;left:1545.53px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9471.01px;left:2008.11px;white-space:nowrap">5%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9471.01px;left:2328.27px;white-space:nowrap">2/01/31 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9471.01px;left:2954.15px;letter-spacing:52.42px;white-space:nowrap">........................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9471.01px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9471.01px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9471.01px;left:7485.64px;white-space:nowrap">900,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9471.01px;left:9501.64px;white-space:nowrap">892,098</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9667.49px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9667.49px;left:1082.95px;white-space:nowrap">Note, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9667.49px;left:1509.83px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9667.49px;left:1972.41px;white-space:nowrap">4.625%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9667.49px;left:2603.97px;white-space:nowrap">2/01/29 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9667.49px;left:3234.39px;letter-spacing:52.91px;white-space:nowrap">.....................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9667.49px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9667.49px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9667.49px;left:7485.64px;white-space:nowrap">700,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9667.49px;left:9501.64px;white-space:nowrap">692,300</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9878.54px;left:432px;white-space:nowrap">Clearway </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9878.54px;left:1143.33px;white-space:nowrap">Energy </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9878.54px;left:1694.73px;white-space:nowrap">Operating </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9878.54px;left:2441.84px;white-space:nowrap">LLC</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9878.54px;left:2735.36px;white-space:nowrap">,</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10075.02px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10075.02px;left:1082.95px;white-space:nowrap">Note, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10075.02px;left:1509.83px;white-space:nowrap">5.75%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10075.02px;left:2052.41px;white-space:nowrap">10/15/25 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10075.02px;left:2767.33px;letter-spacing:52.15px;white-space:nowrap">..........................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10075.02px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10075.02px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10075.02px;left:7485.64px;white-space:nowrap">400,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10075.02px;left:9501.64px;white-space:nowrap">418,970</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10271.5px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10271.5px;left:1082.95px;white-space:nowrap">Note, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10271.5px;left:1509.83px;white-space:nowrap">5%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10271.5px;left:1829.98px;white-space:nowrap">9/15/26 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10271.5px;left:2487.09px;letter-spacing:51.82px;white-space:nowrap">.............................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10271.5px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10271.5px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10271.5px;left:7485.64px;white-space:nowrap">700,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10271.5px;left:9501.64px;white-space:nowrap">722,312</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:10471.2px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10467.99px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10467.99px;left:1082.95px;white-space:nowrap">Note, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10467.99px;left:1509.83px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10467.99px;left:1972.41px;white-space:nowrap">4.75%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10467.99px;left:2514.98px;white-space:nowrap">3/15/28 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10467.99px;left:3140.98px;letter-spacing:52.73px;white-space:nowrap">......................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10467.99px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10467.99px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10467.99px;left:7485.64px;white-space:nowrap">600,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10467.99px;left:9501.64px;white-space:nowrap">641,814</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:10667.68px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10664.47px;left:432px;white-space:nowrap">InterGen</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10664.47px;left:1099.03px;letter-spacing:-7.34px;white-space:nowrap">NV</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10664.47px;left:1306.61px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10664.47px;left:1395.52px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10664.47px;left:1902.47px;white-space:nowrap">Secured </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10664.47px;left:2542.86px;white-space:nowrap">Bond</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10664.47px;left:2916.53px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10664.47px;left:3005.44px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10664.47px;left:3468.02px;white-space:nowrap">7</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10664.47px;left:3557px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10664.47px;left:3699.27px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10664.47px;left:3788.17px;white-space:nowrap">6/30/23</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10664.47px;left:4355.35px;letter-spacing:58.18px;white-space:nowrap">.........</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10664.47px;left:5761.27px;white-space:nowrap">Netherlands</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10664.47px;left:7352.2px;white-space:nowrap">1,900,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10664.47px;left:9368.2px;white-space:nowrap">1,850,125</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10860.96px;left:432px;letter-spacing:-2.96px;white-space:nowrap">Talen </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10860.96px;left:858.95px;white-space:nowrap">Energy </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10860.96px;left:1410.36px;white-space:nowrap">Supply </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10860.96px;left:1944.03px;white-space:nowrap">LLC</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10860.96px;left:2237.55px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10860.96px;left:2326.45px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10860.96px;left:2833.41px;white-space:nowrap">Note</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10860.96px;left:3171.38px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10860.96px;left:3260.28px;white-space:nowrap">6.5</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10860.96px;left:3482.7px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10860.96px;left:3624.97px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10860.96px;left:3713.88px;white-space:nowrap">6/01/25</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10860.96px;left:4261.94px;letter-spacing:57.26px;white-space:nowrap">..........</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10875.52px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10875.52px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10875.52px;left:7352.2px;white-space:nowrap">2,100,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10875.52px;left:9368.2px;white-space:nowrap">1,841,438</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11159.28px;left:9368.2px;white-space:nowrap">7,059,057</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:11457.61px;left:432px;white-space:nowrap">Insurance </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:11457.61px;left:1232.31px;white-space:nowrap">0.5%</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:11657.3px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11654.09px;left:432px;white-space:nowrap">Alliant </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11654.09px;left:912.23px;white-space:nowrap">Holdings </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11654.09px;left:1579.27px;white-space:nowrap">Intermediate </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11654.09px;left:2513.09px;white-space:nowrap">LLC </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11654.09px;left:2851.06px;white-space:nowrap">/ </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11654.09px;left:2931.14px;white-space:nowrap">Alliant </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11654.09px;left:3411.38px;white-space:nowrap">Holdings </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11654.09px;left:4078.41px;letter-spacing:-0.98px;white-space:nowrap">Co-Issuer</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11654.09px;left:4763.09px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11654.09px;left:4852px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11846.09px;left:576px;white-space:nowrap">Note</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11846.09px;left:913.97px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11846.09px;left:1002.88px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11846.09px;left:1465.45px;white-space:nowrap">6.75</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11846.09px;left:1776.86px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11846.09px;left:1919.13px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11846.09px;left:2008.03px;white-space:nowrap">10/15/27</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11846.09px;left:2673.91px;letter-spacing:52.03px;white-space:nowrap">...........................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11846.09px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11846.09px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11846.09px;left:7352.2px;white-space:nowrap">1,100,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11846.09px;left:9368.2px;white-space:nowrap">1,143,802</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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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:80px;position:absolute;top:280.75px;left:0px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:80px;position:absolute;top:280.75px;left:432px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:213.02px;left:6010.72px;white-space:nowrap">Country</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:80px;position:absolute;top:280.75px;left:8451.51px;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">Corporate </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:499.31px;left:1443.23px;white-space:nowrap">Bonds </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:533.18px;left:2120.96px;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">Internet </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:744.23px;left:1063.17px;white-space:nowrap">&amp; </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">Direct </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:744.23px;left:1721.14px;white-space:nowrap">Marketing </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:744.23px;left:2521.3px;white-space:nowrap">Retail </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:744.23px;left:3001.45px;white-space:nowrap">0.2%</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:943.92px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:940.71px;left:432px;white-space:nowrap">Match </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:940.71px;left:912.16px;white-space:nowrap">Group </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:940.71px;left:1401.3px;white-space:nowrap">Holdings </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:940.71px;left:2068.33px;white-space:nowrap">II </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:940.71px;left:2201.69px;white-space:nowrap">LLC</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:940.71px;left:2495.2px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:940.71px;left:2584.11px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:940.71px;left:3091.06px;white-space:nowrap">Note</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:940.71px;left:3429.03px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:940.71px;left:3517.94px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:940.71px;left:3980.52px;white-space:nowrap">4.625</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:940.71px;left:4380.91px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:940.71px;left:4523.17px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:940.71px;left:4612.08px;white-space:nowrap">6/01/28</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:940.71px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:940.71px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:940.71px;left:7485.64px;white-space:nowrap">500,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:940.71px;left:9412.66px;white-space:nowrap">$</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:940.71px;left:9501.64px;white-space:nowrap">520,028</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1239.04px;left:432px;white-space:nowrap">IT </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1239.04px;left:618.64px;white-space:nowrap">Services </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1239.04px;left:1321.45px;white-space:nowrap">2.4%</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:1438.73px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1435.52px;left:432px;white-space:nowrap">Cablevision </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1435.52px;left:1303.56px;white-space:nowrap">Lightpath</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1435.52px;left:2006.38px;white-space:nowrap">LLC</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1435.52px;left:2299.89px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1435.52px;left:2388.8px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1435.52px;left:2895.75px;white-space:nowrap">Secured </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1435.52px;left:3536.14px;white-space:nowrap">Note</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1435.52px;left:3874.11px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1435.52px;left:3963.02px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1435.52px;left:4425.59px;white-space:nowrap">3.875</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1435.52px;left:4825.98px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1435.52px;left:4968.25px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1627.52px;left:576px;white-space:nowrap">9/15/27</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1627.52px;left:1179.3px;letter-spacing:50.89px;white-space:nowrap">...........................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1627.52px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1627.52px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1627.52px;left:7485.64px;white-space:nowrap">700,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1627.52px;left:9501.64px;white-space:nowrap">695,625</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:1827.22px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1838.57px;left:432px;letter-spacing:-0.98px;white-space:nowrap">Gartner, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1838.57px;left:1054.5px;white-space:nowrap">Inc.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1838.57px;left:1312.39px;white-space:nowrap">,</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2035.05px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2035.05px;left:1082.95px;white-space:nowrap">Note, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2035.05px;left:1509.83px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2035.05px;left:1972.41px;white-space:nowrap">4.5%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2035.05px;left:2426px;white-space:nowrap">7/01/28 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2035.05px;left:3047.57px;letter-spacing:52.57px;white-space:nowrap">.......................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2035.05px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2035.05px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2035.05px;left:7485.64px;white-space:nowrap">500,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2035.05px;left:9501.64px;white-space:nowrap">525,625</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2231.53px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2231.53px;left:1082.95px;white-space:nowrap">Note, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2231.53px;left:1509.83px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2231.53px;left:1972.41px;white-space:nowrap">3.75%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2231.53px;left:2514.98px;white-space:nowrap">10/01/30 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2231.53px;left:3234.39px;letter-spacing:52.91px;white-space:nowrap">.....................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2231.53px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2231.53px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2231.53px;left:7485.64px;white-space:nowrap">300,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2231.53px;left:9501.64px;white-space:nowrap">304,125</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:2431.23px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2428.02px;left:432px;white-space:nowrap">Northwest </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2428.02px;left:1196.69px;white-space:nowrap">Fiber </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2428.02px;left:1605.67px;white-space:nowrap">LLC </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2428.02px;left:1943.64px;white-space:nowrap">/ </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2428.02px;left:2032.55px;white-space:nowrap">Northwest </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2428.02px;left:2797.23px;white-space:nowrap">Fiber </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2428.02px;left:3206.22px;white-space:nowrap">Finance </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2428.02px;left:3819.89px;white-space:nowrap">Sub, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2428.02px;left:4193.48px;white-space:nowrap">Inc.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2428.02px;left:4451.38px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2428.02px;left:4540.28px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2620.02px;left:576px;white-space:nowrap">Note</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2620.02px;left:913.97px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2620.02px;left:1002.88px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2620.02px;left:1465.45px;white-space:nowrap">6</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2620.02px;left:1554.44px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2620.02px;left:1696.7px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2620.02px;left:1785.61px;white-space:nowrap">2/15/28</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2620.02px;left:2393.68px;letter-spacing:51.73px;white-space:nowrap">..............................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2620.02px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2620.02px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2620.02px;left:7352.2px;white-space:nowrap">1,100,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2620.02px;left:9368.2px;white-space:nowrap">1,109,625</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:2819.71px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2816.5px;left:432px;white-space:nowrap">Presidio </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2816.5px;left:1054.5px;white-space:nowrap">Holdings, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2816.5px;left:1765.98px;white-space:nowrap">Inc.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2816.5px;left:2023.88px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2816.5px;left:2112.78px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2816.5px;left:2619.73px;white-space:nowrap">Note</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2816.5px;left:2957.7px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2816.5px;left:3046.61px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2816.5px;left:3509.19px;white-space:nowrap">8.25</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2816.5px;left:3820.59px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2816.5px;left:3962.86px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2816.5px;left:4051.77px;white-space:nowrap">2/01/28</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2816.5px;left:4635.59px;letter-spacing:62.79px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2816.5px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2816.5px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2816.5px;left:7485.64px;white-space:nowrap">900,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2816.5px;left:9501.64px;white-space:nowrap">996,754</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:3016.2px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3012.99px;left:432px;letter-spacing:-2.96px;white-space:nowrap">Tempo </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3012.99px;left:947.86px;white-space:nowrap">Acquisition </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3012.99px;left:1766.06px;white-space:nowrap">LLC </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3012.99px;left:2104.03px;white-space:nowrap">/ </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3012.99px;left:2190.05px;letter-spacing:-2.96px;white-space:nowrap">Tempo </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3012.99px;left:2705.91px;white-space:nowrap">Acquisition </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3012.99px;left:3524.11px;white-space:nowrap">Finance </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3012.99px;left:4137.78px;white-space:nowrap">Corp.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3012.99px;left:4529.03px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3012.99px;left:4617.94px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3204.99px;left:576px;white-space:nowrap">Note</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3204.99px;left:913.97px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3204.99px;left:1002.88px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3204.99px;left:1465.45px;white-space:nowrap">6.75</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3204.99px;left:1776.86px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3204.99px;left:1919.13px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3204.99px;left:2008.03px;white-space:nowrap">6/01/25</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3204.99px;left:2580.5px;letter-spacing:51.92px;white-space:nowrap">............................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3204.99px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3204.99px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3204.99px;left:7352.2px;white-space:nowrap">1,300,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3204.99px;left:9368.2px;white-space:nowrap">1,335,750</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3488.75px;left:9368.2px;white-space:nowrap">4,967,504</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3787.08px;left:432px;white-space:nowrap">Machinery </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3787.08px;left:1267.86px;white-space:nowrap">2.6%</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:3986.77px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3983.56px;left:432px;letter-spacing:-2.97px;white-space:nowrap">ATS </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3983.56px;left:766.92px;white-space:nowrap">Automation </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3983.56px;left:1617.86px;letter-spacing:-2.22px;white-space:nowrap">Tooling </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3983.56px;left:2169.34px;white-space:nowrap">Systems, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3983.56px;left:2871.69px;white-space:nowrap">Inc.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3983.56px;left:3129.58px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3983.56px;left:3218.48px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3983.56px;left:3725.44px;white-space:nowrap">Note</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3983.56px;left:4063.41px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3983.56px;left:4152.31px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3983.56px;left:4614.89px;white-space:nowrap">4.125</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3983.56px;left:5015.28px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3983.56px;left:5157.55px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4175.56px;left:576px;white-space:nowrap">12/15/28</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4175.56px;left:1272.72px;letter-spacing:50.94px;white-space:nowrap">..........................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4175.56px;left:6063.53px;white-space:nowrap">Canada</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4175.56px;left:7352.2px;white-space:nowrap">1,300,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4175.56px;left:9368.2px;white-space:nowrap">1,317,127</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:4375.26px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4372.05px;left:432px;white-space:nowrap">Manitowoc </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4372.05px;left:1241.22px;white-space:nowrap">Co., </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4372.05px;left:1579.11px;white-space:nowrap">Inc. </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4372.05px;left:1881.45px;white-space:nowrap">(The)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4372.05px;left:2263.72px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4372.05px;left:2352.63px;white-space:nowrap">Secured </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4372.05px;left:2993.02px;white-space:nowrap">Note</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4372.05px;left:3330.98px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4372.05px;left:3419.89px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4372.05px;left:3882.47px;white-space:nowrap">9</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4372.05px;left:3971.45px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4372.05px;left:4113.72px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4372.05px;left:4202.63px;white-space:nowrap">4/01/26</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4372.05px;left:4822.42px;letter-spacing:69.7px;white-space:nowrap">....</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4372.05px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4372.05px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4372.05px;left:7352.2px;white-space:nowrap">1,000,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4372.05px;left:9368.2px;white-space:nowrap">1,080,675</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:4571.74px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4568.53px;left:432px;white-space:nowrap">Navistar </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4568.53px;left:1063.25px;white-space:nowrap">International </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4568.53px;left:1988.33px;white-space:nowrap">Corp.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4568.53px;left:2379.58px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4568.53px;left:2468.48px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4568.53px;left:2975.44px;white-space:nowrap">Note</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4568.53px;left:3313.41px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4568.53px;left:3402.31px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4568.53px;left:3864.89px;white-space:nowrap">6.625</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4568.53px;left:4265.28px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4568.53px;left:4407.55px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4568.53px;left:4496.45px;letter-spacing:-1.48px;white-space:nowrap">11/01/25</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4568.53px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4568.53px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4568.53px;left:7485.64px;white-space:nowrap">400,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4568.53px;left:9501.64px;white-space:nowrap">416,172</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4765.01px;left:432px;letter-spacing:-2.22px;white-space:nowrap">Tennant </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4765.01px;left:1045.83px;white-space:nowrap">Co.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4765.01px;left:1294.81px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4765.01px;left:1383.72px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4765.01px;left:1890.67px;white-space:nowrap">Note</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4765.01px;left:2228.64px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4765.01px;left:2317.55px;white-space:nowrap">5.625</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4765.01px;left:2717.94px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4765.01px;left:2860.2px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4765.01px;left:2949.11px;white-space:nowrap">5/01/25</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4765.01px;left:3514.63px;letter-spacing:53.57px;white-space:nowrap">..................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4779.58px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4779.58px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4779.58px;left:7352.2px;white-space:nowrap">1,600,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4779.58px;left:9368.2px;white-space:nowrap">1,656,000</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:4979.27px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4976.06px;left:432px;letter-spacing:-0.98px;white-space:nowrap">Vertical </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4976.06px;left:1001.14px;white-space:nowrap">Holdco </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4976.06px;left:1543.64px;white-space:nowrap">GmbH</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4976.06px;left:2005.91px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4976.06px;left:2094.81px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4976.06px;left:2601.77px;white-space:nowrap">Note</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4976.06px;left:2939.73px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4976.06px;left:3028.64px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4976.06px;left:3491.22px;white-space:nowrap">7.625</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4976.06px;left:3891.61px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4976.06px;left:4033.88px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4976.06px;left:4122.78px;white-space:nowrap">7/15/28</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4976.06px;left:4729px;letter-spacing:65.55px;white-space:nowrap">.....</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4976.06px;left:5966.03px;white-space:nowrap">Germany</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4976.06px;left:7485.64px;white-space:nowrap">300,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4976.06px;left:9501.64px;white-space:nowrap">324,785</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:5175.75px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5172.54px;left:432px;letter-spacing:-0.98px;white-space:nowrap">Vertical </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5172.54px;left:1001.14px;white-space:nowrap">US </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5172.54px;left:1267.86px;white-space:nowrap">Newco, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5172.54px;left:1845.83px;white-space:nowrap">Inc.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5172.54px;left:2103.72px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5172.54px;left:2192.63px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5172.54px;left:2699.58px;white-space:nowrap">Secured </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5172.54px;left:3339.97px;white-space:nowrap">Note</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5172.54px;left:3677.94px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5172.54px;left:3766.84px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5172.54px;left:4229.42px;white-space:nowrap">5.25</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5172.54px;left:4540.83px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5172.54px;left:4683.09px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5172.54px;left:4772px;white-space:nowrap">7/15/27</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5172.54px;left:5966.03px;white-space:nowrap">Germany</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5172.54px;left:7485.64px;white-space:nowrap">600,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5172.54px;left:9501.64px;white-space:nowrap">626,625</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5456.31px;left:9368.2px;white-space:nowrap">5,421,384</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5754.63px;left:432px;white-space:nowrap">Media </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5754.63px;left:929.89px;white-space:nowrap">5.4%</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:5954.33px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5951.12px;left:432px;white-space:nowrap">Clear </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5951.12px;left:858.8px;white-space:nowrap">Channel </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5951.12px;left:1499.27px;white-space:nowrap">International </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5951.12px;left:2424.34px;letter-spacing:-7.34px;white-space:nowrap">BV</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5951.12px;left:2623.09px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5951.12px;left:2712px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5951.12px;left:3218.95px;white-space:nowrap">Secured </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5951.12px;left:3859.34px;white-space:nowrap">Note</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5951.12px;left:4197.31px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5951.12px;left:4286.22px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6143.12px;left:576px;white-space:nowrap">6.625</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6143.12px;left:976.39px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6143.12px;left:1118.66px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6143.12px;left:1207.56px;white-space:nowrap">8/01/25</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6143.12px;left:1741.39px;letter-spacing:51.2px;white-space:nowrap">.....................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6143.12px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6143.12px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6143.12px;left:7485.64px;white-space:nowrap">400,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6143.12px;left:9501.64px;white-space:nowrap">422,500</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:6342.81px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6339.6px;left:432px;white-space:nowrap">Clear </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6339.6px;left:858.8px;white-space:nowrap">Channel </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6339.6px;left:1499.27px;white-space:nowrap">Outdoor </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6339.6px;left:2121.84px;white-space:nowrap">Holdings, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6339.6px;left:2833.33px;white-space:nowrap">Inc.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6339.6px;left:3091.22px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6339.6px;left:3180.13px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6339.6px;left:3687.08px;white-space:nowrap">Note</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6339.6px;left:4025.05px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6339.6px;left:4113.95px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6339.6px;left:4576.53px;white-space:nowrap">7.75</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6339.6px;left:4887.94px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6339.6px;left:5030.2px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6531.6px;left:576px;white-space:nowrap">4/15/28</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6531.6px;left:1179.3px;letter-spacing:50.89px;white-space:nowrap">...........................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6531.6px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6531.6px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6531.6px;left:7485.64px;white-space:nowrap">300,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6531.6px;left:9501.64px;white-space:nowrap">305,062</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6742.65px;left:432px;white-space:nowrap">Clear </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6742.65px;left:858.8px;white-space:nowrap">Channel </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6742.65px;left:1499.27px;letter-spacing:-0.29px;white-space:nowrap">Worldwide </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6742.65px;left:2287.7px;white-space:nowrap">Holdings, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6742.65px;left:2999.19px;white-space:nowrap">Inc.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6742.65px;left:3257.08px;white-space:nowrap">,</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6939.13px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6939.13px;left:1082.95px;white-space:nowrap">Note, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6939.13px;left:1509.83px;white-space:nowrap">9.25%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6939.13px;left:2052.41px;white-space:nowrap">2/15/24 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6939.13px;left:2673.91px;letter-spacing:52.03px;white-space:nowrap">...........................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6939.13px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6939.13px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6939.13px;left:7485.64px;white-space:nowrap">510,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6939.13px;left:9501.64px;white-space:nowrap">531,994</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:7138.83px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7135.62px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7135.62px;left:1082.95px;white-space:nowrap">Secured </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7135.62px;left:1723.34px;white-space:nowrap">Note, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7135.62px;left:2150.22px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7135.62px;left:2612.8px;white-space:nowrap">5.125%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7135.62px;left:3244.36px;white-space:nowrap">8/15/27 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7135.62px;left:3888.29px;letter-spacing:54.89px;white-space:nowrap">..............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7135.62px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7135.62px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7135.62px;left:7485.64px;white-space:nowrap">500,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7135.62px;left:9501.64px;white-space:nowrap">508,625</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7346.66px;left:432px;white-space:nowrap">CSC </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7346.66px;left:814.27px;white-space:nowrap">Holdings </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7346.66px;left:1481.3px;white-space:nowrap">LLC</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7346.66px;left:1774.81px;white-space:nowrap">,</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7543.15px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7543.15px;left:1082.95px;white-space:nowrap">Bond, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7543.15px;left:1545.53px;white-space:nowrap">5.25%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7543.15px;left:2088.11px;white-space:nowrap">6/01/24 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7543.15px;left:2673.91px;letter-spacing:52.03px;white-space:nowrap">...........................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7543.15px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7543.15px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7543.15px;left:7485.64px;white-space:nowrap">700,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7543.15px;left:9501.64px;white-space:nowrap">754,687</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7739.63px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7739.63px;left:1082.95px;white-space:nowrap">Note, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7739.63px;left:1509.83px;white-space:nowrap">6.75%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7739.63px;left:2052.41px;letter-spacing:-1.32px;white-space:nowrap">11/15/21 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7739.63px;left:2767.33px;letter-spacing:52.15px;white-space:nowrap">..........................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7739.63px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7739.63px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7739.63px;left:7485.64px;white-space:nowrap">700,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7739.63px;left:9501.64px;white-space:nowrap">724,062</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:7939.32px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7936.11px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7936.11px;left:1082.95px;white-space:nowrap">Note, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7936.11px;left:1509.83px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7936.11px;left:1972.41px;white-space:nowrap">7.5%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7936.11px;left:2426px;white-space:nowrap">4/01/28 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7936.11px;left:3047.57px;letter-spacing:52.57px;white-space:nowrap">.......................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7936.11px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7936.11px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7936.11px;left:7485.64px;white-space:nowrap">300,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7936.11px;left:9501.64px;white-space:nowrap">330,854</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:8135.81px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8147.16px;left:432px;white-space:nowrap">Diamond </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8147.16px;left:1116.77px;white-space:nowrap">Sports </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8147.16px;left:1623.64px;white-space:nowrap">Group </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8147.16px;left:2112.78px;white-space:nowrap">LLC </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8147.16px;left:2450.75px;white-space:nowrap">/ </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8147.16px;left:2539.66px;white-space:nowrap">Diamond </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8147.16px;left:3224.42px;white-space:nowrap">Sports </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8147.16px;left:3731.3px;white-space:nowrap">Finance </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8147.16px;left:4344.97px;white-space:nowrap">Co.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8147.16px;left:4593.95px;white-space:nowrap">,</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8343.64px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8343.64px;left:1082.95px;white-space:nowrap">Note, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8343.64px;left:1509.83px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8343.64px;left:1972.41px;white-space:nowrap">6.625%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8343.64px;left:2603.97px;white-space:nowrap">8/15/27 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8343.64px;left:3234.39px;letter-spacing:52.91px;white-space:nowrap">.....................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8343.64px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8343.64px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8343.64px;left:7485.64px;white-space:nowrap">700,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8343.64px;left:9501.64px;white-space:nowrap">361,375</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8540.13px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8540.13px;left:1082.95px;white-space:nowrap">Secured </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8540.13px;left:1723.34px;white-space:nowrap">Note, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8540.13px;left:2150.22px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8540.13px;left:2612.8px;white-space:nowrap">5.375%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8540.13px;left:3244.36px;white-space:nowrap">8/15/26 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8540.13px;left:3888.29px;letter-spacing:54.89px;white-space:nowrap">..............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8540.13px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8540.13px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8540.13px;left:7485.64px;white-space:nowrap">400,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8540.13px;left:9501.64px;white-space:nowrap">283,380</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8736.61px;left:432px;white-space:nowrap">DISH </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8736.61px;left:858.72px;white-space:nowrap">DBS </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8736.61px;left:1232.16px;white-space:nowrap">Corp.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8736.61px;left:1623.41px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8736.61px;left:1712.31px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8736.61px;left:2219.27px;white-space:nowrap">Note</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8736.61px;left:2557.23px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8736.61px;left:2646.14px;white-space:nowrap">5.875</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8736.61px;left:3046.53px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8736.61px;left:3188.8px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8736.61px;left:3277.7px;white-space:nowrap">7/15/22</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8736.61px;left:3888.29px;letter-spacing:54.89px;white-space:nowrap">..............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8751.17px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8751.17px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8751.17px;left:7485.64px;white-space:nowrap">400,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8751.17px;left:9501.64px;white-space:nowrap">417,472</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:8950.87px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8962.22px;left:432px;white-space:nowrap">Gray </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8962.22px;left:820.28px;letter-spacing:-1.48px;white-space:nowrap">Television, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8962.22px;left:1611.77px;white-space:nowrap">Inc.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8962.22px;left:1869.66px;white-space:nowrap">,</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9158.7px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9158.7px;left:1082.95px;white-space:nowrap">Note, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9158.7px;left:1509.83px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9158.7px;left:1972.41px;white-space:nowrap">7%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9158.7px;left:2292.56px;white-space:nowrap">5/15/27 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9158.7px;left:2954.15px;letter-spacing:52.42px;white-space:nowrap">........................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9158.7px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9158.7px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9158.7px;left:7485.64px;white-space:nowrap">500,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9158.7px;left:9501.64px;white-space:nowrap">546,875</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9355.19px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9355.19px;left:1082.95px;white-space:nowrap">Note, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9355.19px;left:1509.83px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9355.19px;left:1972.41px;white-space:nowrap">4.75%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9355.19px;left:2514.98px;white-space:nowrap">10/15/30 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9355.19px;left:3234.39px;letter-spacing:52.91px;white-space:nowrap">.....................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9355.19px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9355.19px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9355.19px;left:7485.64px;white-space:nowrap">500,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9355.19px;left:9501.64px;white-space:nowrap">500,938</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:9554.88px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9551.67px;left:432px;white-space:nowrap">LCPR </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9551.67px;left:903.25px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9551.67px;left:1410.2px;white-space:nowrap">Secured </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9551.67px;left:2050.59px;white-space:nowrap">Financing </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9551.67px;left:2788.8px;white-space:nowrap">DAC</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9551.67px;left:3126.61px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9551.67px;left:3215.52px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9551.67px;left:3722.47px;white-space:nowrap">Secured </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9551.67px;left:4362.86px;white-space:nowrap">Note</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9551.67px;left:4700.83px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9551.67px;left:4789.73px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9743.67px;left:576px;white-space:nowrap">6.75</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9743.67px;left:887.41px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9743.67px;left:1029.67px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9743.67px;left:1118.58px;white-space:nowrap">10/15/27</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9743.67px;left:1741.39px;letter-spacing:51.2px;white-space:nowrap">.....................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9743.67px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9743.67px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9743.67px;left:7485.64px;white-space:nowrap">700,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9743.67px;left:9501.64px;white-space:nowrap">750,645</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:9943.37px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9954.72px;left:432px;white-space:nowrap">Nexstar</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9954.72px;left:1027.7px;white-space:nowrap">Broadcasting, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9954.72px;left:2050.52px;white-space:nowrap">Inc.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9954.72px;left:2308.41px;white-space:nowrap">,</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10151.2px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10151.2px;left:1082.95px;white-space:nowrap">Note, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10151.2px;left:1509.83px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10151.2px;left:1972.41px;white-space:nowrap">5.625%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10151.2px;left:2603.97px;white-space:nowrap">7/15/27 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10151.2px;left:3234.39px;letter-spacing:52.91px;white-space:nowrap">.....................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10151.2px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10151.2px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10151.2px;left:7352.2px;white-space:nowrap">1,000,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10151.2px;left:9368.2px;white-space:nowrap">1,057,815</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10347.68px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10347.68px;left:1082.95px;white-space:nowrap">Note, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10347.68px;left:1509.83px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10347.68px;left:1972.41px;white-space:nowrap">4.75%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10347.68px;left:2514.98px;letter-spacing:-1.32px;white-space:nowrap">11/01/28 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10347.68px;left:3234.39px;letter-spacing:52.91px;white-space:nowrap">.....................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10347.68px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10347.68px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10347.68px;left:7485.64px;white-space:nowrap">200,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10347.68px;left:9501.64px;white-space:nowrap">204,625</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:10547.38px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10544.17px;left:432px;white-space:nowrap">Outfront</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10544.17px;left:1054.5px;white-space:nowrap">Media </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10544.17px;left:1534.73px;white-space:nowrap">Capital </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10544.17px;left:2077.23px;white-space:nowrap">LLC </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10544.17px;left:2415.2px;white-space:nowrap">/ </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10544.17px;left:2504.11px;white-space:nowrap">Outfront</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10544.17px;left:3126.61px;white-space:nowrap">Media </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10544.17px;left:3606.84px;white-space:nowrap">Capital </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10544.17px;left:4149.34px;white-space:nowrap">Corp.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10544.17px;left:4540.59px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10544.17px;left:4629.5px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10736.17px;left:576px;white-space:nowrap">Note</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10736.17px;left:913.97px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10736.17px;left:1002.88px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10736.17px;left:1465.45px;white-space:nowrap">4.25</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10736.17px;left:1776.86px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10736.17px;left:1919.13px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10736.17px;left:2008.03px;white-space:nowrap">1/15/29</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10736.17px;left:2580.5px;letter-spacing:51.92px;white-space:nowrap">............................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10736.17px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10736.17px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10736.17px;left:7485.64px;white-space:nowrap">400,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10736.17px;left:9501.64px;white-space:nowrap">389,500</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:10935.86px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10932.65px;left:432px;white-space:nowrap">Scripps </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10932.65px;left:1009.97px;letter-spacing:-1.1px;white-space:nowrap">Escrow, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10932.65px;left:1614.58px;white-space:nowrap">Inc.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10932.65px;left:1872.47px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10932.65px;left:1961.38px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10932.65px;left:2468.33px;white-space:nowrap">Note</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10932.65px;left:2806.3px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10932.65px;left:2895.2px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10932.65px;left:3357.78px;white-space:nowrap">5.875</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10932.65px;left:3758.17px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10932.65px;left:3900.44px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10932.65px;left:3989.34px;white-space:nowrap">7/15/27</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10932.65px;left:4542.18px;letter-spacing:60.81px;white-space:nowrap">.......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10932.65px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10932.65px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10932.65px;left:7485.64px;white-space:nowrap">600,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10932.65px;left:9501.64px;white-space:nowrap">625,950</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:11132.35px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11129.14px;left:432px;white-space:nowrap">Sinclair </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11129.14px;left:998.17px;letter-spacing:-1.61px;white-space:nowrap">Television </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11129.14px;left:1745.2px;white-space:nowrap">Group, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11129.14px;left:2278.8px;white-space:nowrap">Inc.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11129.14px;left:2536.69px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11129.14px;left:2625.59px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11129.14px;left:3132.55px;white-space:nowrap">Bond</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11129.14px;left:3506.22px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11129.14px;left:3595.13px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11129.14px;left:4057.7px;white-space:nowrap">5.5</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11129.14px;left:4280.13px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11129.14px;left:4422.39px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11129.14px;left:4511.3px;white-space:nowrap">3/01/30</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11129.14px;left:5102.66px;letter-spacing:131.93px;white-space:nowrap">.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11129.14px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11129.14px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11129.14px;left:7485.64px;white-space:nowrap">700,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11129.14px;left:9501.64px;white-space:nowrap">703,955</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:11328.83px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11325.62px;left:432px;white-space:nowrap">Sirius </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11325.62px;left:876.53px;white-space:nowrap">XM </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11325.62px;left:1160.98px;white-space:nowrap">Radio, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11325.62px;left:1667.94px;white-space:nowrap">Inc.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11325.62px;left:1925.83px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11325.62px;left:2014.73px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11325.62px;left:2521.69px;white-space:nowrap">Note</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11325.62px;left:2859.66px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11325.62px;left:2948.56px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11325.62px;left:3411.14px;white-space:nowrap">4.625</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11325.62px;left:3811.53px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11325.62px;left:3953.8px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11325.62px;left:4042.7px;white-space:nowrap">7/15/24</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11325.62px;left:4635.59px;letter-spacing:62.79px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11325.62px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11325.62px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11325.62px;left:7485.64px;white-space:nowrap">600,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11325.62px;left:9501.64px;white-space:nowrap">618,684</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:11525.32px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11536.67px;left:432px;white-space:nowrap">Univision </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11536.67px;left:1125.59px;white-space:nowrap">Communications, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11536.67px;left:2406.06px;white-space:nowrap">Inc.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11536.67px;left:2663.95px;white-space:nowrap">,</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11733.15px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11733.15px;left:1082.95px;white-space:nowrap">Secured </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11733.15px;left:1723.34px;white-space:nowrap">Note, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11733.15px;left:2150.22px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11733.15px;left:2612.8px;white-space:nowrap">9.5%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11733.15px;left:3066.39px;white-space:nowrap">5/01/25 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11733.15px;left:3701.46px;letter-spacing:54.15px;white-space:nowrap">................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11733.15px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11733.15px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11733.15px;left:7485.64px;white-space:nowrap">800,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11733.15px;left:9501.64px;white-space:nowrap">875,760</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:1196px">

				<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">Semiannual </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:729.38px;white-space:nowrap">Report</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:1313.28px;white-space:nowrap">The </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:1575.86px;white-space:nowrap">accompanying </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:2458.44px;white-space:nowrap">notes </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:2815.94px;white-space:nowrap">are </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:3042.03px;white-space:nowrap">an </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:3224.45px;white-space:nowrap">integral </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:3691.25px;white-space:nowrap">part </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:3953.83px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:4099.77px;white-space:nowrap">these </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:4457.27px;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:4975.16px;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">14</div></div>
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		<div style="background-image:url(data:image/png;base64,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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:80px;position:absolute;top:280.75px;left:0px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:80px;position:absolute;top:280.75px;left:432px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:213.02px;left:6010.72px;white-space:nowrap">Country</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:80px;position:absolute;top:280.75px;left:8451.51px;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">Corporate </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:499.31px;left:1443.23px;white-space:nowrap">Bonds </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:533.18px;left:2120.96px;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">Media </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:744.23px;left:929.89px;white-space:nowrap">(continued)</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:943.92px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:955.27px;left:432px;white-space:nowrap">Univision </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:955.27px;left:1125.59px;white-space:nowrap">Communications, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:955.27px;left:2406.06px;white-space:nowrap">Inc., </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:955.27px;left:2752.86px;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">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1151.76px;left:1082.95px;white-space:nowrap">Secured </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1151.76px;left:1723.34px;white-space:nowrap">Note, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1151.76px;left:2150.22px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1151.76px;left:2612.8px;white-space:nowrap">6.625%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1151.76px;left:3244.36px;white-space:nowrap">6/01/27 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1151.76px;left:3888.29px;letter-spacing:54.89px;white-space:nowrap">..............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1151.76px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1151.76px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1151.76px;left:7485.64px;white-space:nowrap">400,000</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">417,750</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1435.52px;left:9291.09px;letter-spacing:-1.19px;white-space:nowrap">11,332,508</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1733.85px;left:432px;white-space:nowrap">Metals </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1733.85px;left:974.42px;white-space:nowrap">&amp; </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1733.85px;left:1134.42px;white-space:nowrap">Mining </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1733.85px;left:1694.27px;white-space:nowrap">2.0%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1930.33px;left:432px;white-space:nowrap">Commercial </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1930.33px;left:1329.89px;white-space:nowrap">Metals </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1930.33px;left:1845.59px;white-space:nowrap">Co.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1930.33px;left:2094.58px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1930.33px;left:2183.48px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1930.33px;left:2690.44px;white-space:nowrap">Bond</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1930.33px;left:3064.11px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1930.33px;left:3153.02px;white-space:nowrap">3.875</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1930.33px;left:3553.41px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1930.33px;left:3695.67px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1930.33px;left:3784.58px;white-space:nowrap">2/15/31</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1930.33px;left:4355.35px;letter-spacing:58.18px;white-space:nowrap">.........</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1944.89px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1944.89px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1944.89px;left:7352.2px;white-space:nowrap">1,200,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1944.89px;left:9368.2px;white-space:nowrap">1,201,500</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:2144.59px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2141.38px;left:432px;white-space:nowrap">Constellium</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2141.38px;left:1312.31px;white-space:nowrap">SE</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2141.38px;left:1525.75px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2141.38px;left:1614.66px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2141.38px;left:2121.61px;white-space:nowrap">Note</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2141.38px;left:2459.58px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2141.38px;left:2548.48px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2141.38px;left:3011.06px;white-space:nowrap">3.75</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2141.38px;left:3322.47px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2141.38px;left:3464.73px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2141.38px;left:3553.64px;white-space:nowrap">4/15/29</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2141.38px;left:4168.52px;letter-spacing:56.5px;white-space:nowrap">...........</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2141.38px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2141.38px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2141.38px;left:7485.64px;white-space:nowrap">600,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2141.38px;left:9501.64px;white-space:nowrap">594,870</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:2341.07px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2337.86px;left:432px;white-space:nowrap">FMG </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2337.86px;left:831.92px;white-space:nowrap">Resources </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2337.86px;left:1632.31px;white-space:nowrap">August </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2337.86px;left:2174.89px;white-space:nowrap">2006 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2337.86px;left:2575.28px;letter-spacing:-2.37px;white-space:nowrap">Pty. </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2337.86px;left:2883.48px;white-space:nowrap">Ltd.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2337.86px;left:3150.36px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2337.86px;left:3239.27px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2337.86px;left:3746.22px;white-space:nowrap">Note</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2337.86px;left:4084.19px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2337.86px;left:4173.09px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2337.86px;left:4635.67px;white-space:nowrap">4.75</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2337.86px;left:4947.08px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2337.86px;left:5089.34px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2529.86px;left:576px;white-space:nowrap">5/15/22</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2529.86px;left:1179.3px;letter-spacing:50.89px;white-space:nowrap">...........................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2529.86px;left:6001.5px;white-space:nowrap">Australia</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2529.86px;left:7485.64px;white-space:nowrap">800,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2529.86px;left:9501.64px;white-space:nowrap">822,500</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:2729.55px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2726.34px;left:432px;white-space:nowrap">Joseph </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2726.34px;left:989.5px;letter-spacing:-1.45px;white-space:nowrap">T </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2726.34px;left:1128.8px;white-space:nowrap">Ryerson </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2726.34px;left:1769.03px;white-space:nowrap">&amp; </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2726.34px;left:1920.2px;white-space:nowrap">Son, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2726.34px;left:2293.8px;white-space:nowrap">Inc.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2726.34px;left:2551.69px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2726.34px;left:2640.59px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2726.34px;left:3147.55px;white-space:nowrap">Secured </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2726.34px;left:3787.94px;white-space:nowrap">Note</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2726.34px;left:4125.91px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2726.34px;left:4214.81px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2726.34px;left:4677.39px;white-space:nowrap">8.5</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2726.34px;left:4899.81px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2726.34px;left:5042.08px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2918.34px;left:576px;white-space:nowrap">8/01/28</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2918.34px;left:1179.3px;letter-spacing:50.89px;white-space:nowrap">...........................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2918.34px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2918.34px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2918.34px;left:7485.64px;white-space:nowrap">880,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2918.34px;left:9501.64px;white-space:nowrap">965,250</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:3118.04px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3114.83px;left:432px;white-space:nowrap">Novelis</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3114.83px;left:1001.06px;white-space:nowrap">Corp.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3114.83px;left:1392.31px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3114.83px;left:1481.22px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3114.83px;left:1988.17px;white-space:nowrap">Bond</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3114.83px;left:2361.84px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3114.83px;left:2450.75px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3114.83px;left:2913.33px;white-space:nowrap">5.875</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3114.83px;left:3313.72px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3114.83px;left:3455.98px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3114.83px;left:3544.89px;white-space:nowrap">9/30/26</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3114.83px;left:4168.52px;letter-spacing:56.5px;white-space:nowrap">...........</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3114.83px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3114.83px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3114.83px;left:7485.64px;white-space:nowrap">500,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3114.83px;left:9501.64px;white-space:nowrap">521,565</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3398.59px;left:9368.2px;white-space:nowrap">4,105,685</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3696.92px;left:432px;white-space:nowrap">Oil, </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3696.92px;left:734.27px;white-space:nowrap">Gas </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3696.92px;left:1081.14px;white-space:nowrap">&amp; </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3696.92px;left:1241.14px;white-space:nowrap">Consumable </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3696.92px;left:2245.75px;white-space:nowrap">Fuels </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3696.92px;left:2708.09px;white-space:nowrap">9.8%</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:3896.61px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3893.4px;left:432px;white-space:nowrap">Aker </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3893.4px;left:805.44px;letter-spacing:-0.96px;white-space:nowrap">BP </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3893.4px;left:1051.61px;white-space:nowrap">ASA</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3893.4px;left:1371.77px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3893.4px;left:1460.67px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3893.4px;left:1967.63px;white-space:nowrap">Note</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3893.4px;left:2305.59px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3893.4px;left:2394.5px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3893.4px;left:2857.08px;white-space:nowrap">5.875</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3893.4px;left:3257.47px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3893.4px;left:3399.73px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3893.4px;left:3488.64px;white-space:nowrap">3/31/25</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3893.4px;left:4075.11px;letter-spacing:55.87px;white-space:nowrap">............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3893.4px;left:6081.66px;white-space:nowrap">Norway</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3893.4px;left:7485.64px;white-space:nowrap">500,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3893.4px;left:9501.64px;white-space:nowrap">515,246</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:4093.1px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4104.45px;left:432px;white-space:nowrap">Antero </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4104.45px;left:947.86px;white-space:nowrap">Resources </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4104.45px;left:1757.08px;white-space:nowrap">Corp.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4104.45px;left:2148.33px;white-space:nowrap">,</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4300.93px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4300.93px;left:1082.95px;white-space:nowrap">Note, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4300.93px;left:1509.83px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4300.93px;left:1972.41px;white-space:nowrap">8.375%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4300.93px;left:2603.97px;white-space:nowrap">7/15/26 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4300.93px;left:3234.39px;letter-spacing:52.91px;white-space:nowrap">.....................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4300.93px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4300.93px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4300.93px;left:7485.64px;white-space:nowrap">200,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4300.93px;left:9501.64px;white-space:nowrap">219,125</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4497.42px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4497.42px;left:1082.95px;white-space:nowrap">Note, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4497.42px;left:1509.83px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4497.42px;left:1972.41px;white-space:nowrap">7.625%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4497.42px;left:2603.97px;white-space:nowrap">2/01/29 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4497.42px;left:3234.39px;letter-spacing:52.91px;white-space:nowrap">.....................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4497.42px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4497.42px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4497.42px;left:7485.64px;white-space:nowrap">200,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4497.42px;left:9501.64px;white-space:nowrap">213,625</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4693.9px;left:432px;white-space:nowrap">Apache </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4693.9px;left:1019.11px;white-space:nowrap">Corp.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4693.9px;left:1410.36px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4693.9px;left:1499.27px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4693.9px;left:2006.22px;white-space:nowrap">Note</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4693.9px;left:2344.19px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4693.9px;left:2433.09px;white-space:nowrap">4.875</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4693.9px;left:2833.48px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4693.9px;left:2975.75px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4693.9px;left:3064.66px;letter-spacing:-1.48px;white-space:nowrap">11/15/27</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4693.9px;left:3701.46px;letter-spacing:54.15px;white-space:nowrap">................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4708.46px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4708.46px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4708.46px;left:7485.64px;white-space:nowrap">300,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4708.46px;left:9501.64px;white-space:nowrap">314,907</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4904.95px;left:432px;white-space:nowrap">Calumet </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4904.95px;left:1072.23px;white-space:nowrap">Specialty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4904.95px;left:1765.91px;white-space:nowrap">Products </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4904.95px;left:2441.77px;white-space:nowrap">Partners </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4904.95px;left:3090.91px;letter-spacing:-0.96px;white-space:nowrap">LP </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4904.95px;left:3328.17px;white-space:nowrap">/ </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4904.95px;left:3417.08px;white-space:nowrap">Calumet </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4904.95px;left:4057.31px;white-space:nowrap">Finance </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4904.95px;left:4670.98px;white-space:nowrap">Corp.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4904.95px;left:5062.23px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5096.95px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5096.95px;left:1082.95px;white-space:nowrap">Note</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5096.95px;left:1420.92px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5096.95px;left:1509.83px;white-space:nowrap">7.75</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5096.95px;left:1821.23px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5096.95px;left:1963.5px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5096.95px;left:2052.41px;white-space:nowrap">4/15/23</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5096.95px;left:2673.91px;letter-spacing:52.03px;white-space:nowrap">...........................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5096.95px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5096.95px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5096.95px;left:7485.64px;white-space:nowrap">800,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5096.95px;left:9501.64px;white-space:nowrap">778,916</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5307.99px;left:432px;white-space:nowrap">Cenovus </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5307.99px;left:1107.94px;letter-spacing:-1.48px;white-space:nowrap">Energy, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5307.99px;left:1691.92px;white-space:nowrap">Inc.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5307.99px;left:1949.81px;white-space:nowrap">,</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5504.47px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5504.47px;left:1082.95px;white-space:nowrap">Bond, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5504.47px;left:1545.53px;white-space:nowrap">6.75%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5504.47px;left:2088.11px;letter-spacing:-1.32px;white-space:nowrap">11/15/39 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5504.47px;left:2767.33px;letter-spacing:52.15px;white-space:nowrap">..........................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5504.47px;left:6063.53px;white-space:nowrap">Canada</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5504.47px;left:7485.64px;white-space:nowrap">400,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5504.47px;left:9501.64px;white-space:nowrap">520,760</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5700.96px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5700.96px;left:1082.95px;white-space:nowrap">Bond, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5700.96px;left:1545.53px;white-space:nowrap">5.4%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5700.96px;left:1999.13px;white-space:nowrap">6/15/47 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5700.96px;left:2580.5px;letter-spacing:51.92px;white-space:nowrap">............................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5700.96px;left:6063.53px;white-space:nowrap">Canada</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5700.96px;left:7485.64px;white-space:nowrap">300,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5700.96px;left:9501.64px;white-space:nowrap">346,684</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5897.44px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5897.44px;left:1082.95px;white-space:nowrap">Note, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5897.44px;left:1509.83px;white-space:nowrap">5.375%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5897.44px;left:2141.39px;white-space:nowrap">7/15/25 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5897.44px;left:2767.33px;letter-spacing:52.15px;white-space:nowrap">..........................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5897.44px;left:6063.53px;white-space:nowrap">Canada</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5897.44px;left:7485.64px;white-space:nowrap">700,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5897.44px;left:9501.64px;white-space:nowrap">793,018</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6108.49px;left:432px;white-space:nowrap">Cheniere </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6108.49px;left:1125.75px;white-space:nowrap">Energy </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6108.49px;left:1677.16px;white-space:nowrap">Partners </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6108.49px;left:2326.3px;letter-spacing:-10.31px;white-space:nowrap">LP</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6108.49px;left:2501.38px;white-space:nowrap">,</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6304.97px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6304.97px;left:1082.95px;white-space:nowrap">Note, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6304.97px;left:1509.83px;white-space:nowrap">5.625%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6304.97px;left:2141.39px;white-space:nowrap">10/01/26 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6304.97px;left:2860.74px;letter-spacing:52.28px;white-space:nowrap">.........................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6304.97px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6304.97px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6304.97px;left:7485.64px;white-space:nowrap">700,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6304.97px;left:9501.64px;white-space:nowrap">728,560</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6501.46px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6501.46px;left:1082.95px;white-space:nowrap">Note, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6501.46px;left:1509.83px;white-space:nowrap">4.5%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6501.46px;left:1963.42px;white-space:nowrap">10/01/29 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6501.46px;left:2673.91px;letter-spacing:52.03px;white-space:nowrap">...........................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6501.46px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6501.46px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6501.46px;left:7352.2px;white-space:nowrap">1,200,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6501.46px;left:9368.2px;white-space:nowrap">1,264,788</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:6701.15px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6697.94px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6697.94px;left:1082.95px;white-space:nowrap">Note, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6697.94px;left:1509.83px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6697.94px;left:1972.41px;white-space:nowrap">4%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6697.94px;left:2292.56px;white-space:nowrap">3/01/31 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6697.94px;left:2954.15px;letter-spacing:52.42px;white-space:nowrap">........................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6697.94px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6697.94px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6697.94px;left:7352.2px;white-space:nowrap">1,200,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6697.94px;left:9368.2px;white-space:nowrap">1,210,896</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6894.43px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6894.43px;left:1082.95px;white-space:nowrap">Secured </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6894.43px;left:1723.34px;white-space:nowrap">Note, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6894.43px;left:2150.22px;white-space:nowrap">5.25%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6894.43px;left:2692.8px;white-space:nowrap">10/01/25 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6894.43px;left:3421.22px;letter-spacing:53.33px;white-space:nowrap">...................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6894.43px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6894.43px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6894.43px;left:7352.2px;white-space:nowrap">1,200,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6894.43px;left:9368.2px;white-space:nowrap">1,234,860</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:7094.12px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7090.91px;left:432px;white-space:nowrap">Cheniere </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7090.91px;left:1125.75px;letter-spacing:-1.48px;white-space:nowrap">Energy, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7090.91px;left:1709.73px;white-space:nowrap">Inc.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7090.91px;left:1967.63px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7090.91px;left:2056.53px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7090.91px;left:2563.48px;white-space:nowrap">Secured </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7090.91px;left:3203.88px;white-space:nowrap">Note</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7090.91px;left:3541.84px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7090.91px;left:3630.75px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7090.91px;left:4093.33px;white-space:nowrap">4.625</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7090.91px;left:4493.72px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7090.91px;left:4635.98px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7282.91px;left:576px;white-space:nowrap">10/15/28</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7282.91px;left:1272.72px;letter-spacing:50.94px;white-space:nowrap">..........................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7282.91px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7282.91px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7282.91px;left:7485.64px;white-space:nowrap">700,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7282.91px;left:9501.64px;white-space:nowrap">728,665</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7493.96px;left:432px;white-space:nowrap">Chesapeake </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7493.96px;left:1374.89px;white-space:nowrap">Energy </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7493.96px;left:1926.3px;white-space:nowrap">Corp.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7493.96px;left:2317.55px;white-space:nowrap">,</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:7693.65px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7690.44px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7690.44px;left:1082.95px;white-space:nowrap">Note, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7690.44px;left:1509.83px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7690.44px;left:1972.41px;white-space:nowrap">5.5%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7690.44px;left:2426px;white-space:nowrap">2/01/26 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7690.44px;left:3047.57px;letter-spacing:52.57px;white-space:nowrap">.......................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7690.44px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7690.44px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7690.44px;left:7485.64px;white-space:nowrap">500,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7690.44px;left:9501.64px;white-space:nowrap">522,197</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:7890.13px;left:385.36px;white-space:nowrap">c</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7886.92px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7886.92px;left:1082.95px;white-space:nowrap">Note, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7886.92px;left:1509.83px;white-space:nowrap">7.5%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7886.92px;left:1963.42px;white-space:nowrap">10/01/26 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7886.92px;left:2673.91px;letter-spacing:52.03px;white-space:nowrap">...........................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7886.92px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7886.92px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7886.92px;left:7352.2px;white-space:nowrap">1,500,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7886.92px;left:9590.63px;white-space:nowrap">33,750</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:8086.62px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8083.41px;left:432px;white-space:nowrap">Continental </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8083.41px;left:1285.91px;white-space:nowrap">Resources, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8083.41px;left:2139.58px;white-space:nowrap">Inc.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8083.41px;left:2397.47px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8083.41px;left:2486.38px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8083.41px;left:2993.33px;white-space:nowrap">Bond</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8083.41px;left:3367px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8083.41px;left:3455.91px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8083.41px;left:3918.48px;white-space:nowrap">5.75</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8083.41px;left:4229.89px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8083.41px;left:4372.16px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8083.41px;left:4461.06px;white-space:nowrap">1/15/31</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8083.41px;left:5009.24px;letter-spacing:90.45px;white-space:nowrap">..</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8083.41px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8083.41px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8083.41px;left:7485.64px;white-space:nowrap">700,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8083.41px;left:9501.64px;white-space:nowrap">790,097</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8279.89px;left:432px;white-space:nowrap">Crestwood </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8279.89px;left:1241.22px;white-space:nowrap">Midstream </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8279.89px;left:2032.47px;white-space:nowrap">Partners </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8279.89px;left:2681.61px;letter-spacing:-0.96px;white-space:nowrap">LP </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8279.89px;left:2918.88px;white-space:nowrap">/ </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8279.89px;left:3007.78px;white-space:nowrap">Crestwood </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8279.89px;left:3817px;white-space:nowrap">Midstream </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8279.89px;left:4608.25px;white-space:nowrap">Finance </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8471.89px;left:432px;white-space:nowrap">Corp.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8471.89px;left:823.25px;white-space:nowrap">,</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8668.38px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8668.38px;left:1082.95px;white-space:nowrap">Note, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8668.38px;left:1509.83px;white-space:nowrap">5.75%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8668.38px;left:2052.41px;white-space:nowrap">4/01/25 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8668.38px;left:2673.91px;letter-spacing:52.03px;white-space:nowrap">...........................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8668.38px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8668.38px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8668.38px;left:7485.64px;white-space:nowrap">800,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8668.38px;left:9501.64px;white-space:nowrap">806,440</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:8868.07px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8864.86px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8864.86px;left:1082.95px;white-space:nowrap">Note, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8864.86px;left:1509.83px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8864.86px;left:1972.41px;white-space:nowrap">6%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8864.86px;left:2292.56px;white-space:nowrap">2/01/29 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8864.86px;left:2954.15px;letter-spacing:52.42px;white-space:nowrap">........................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8864.86px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8864.86px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8864.86px;left:7485.64px;white-space:nowrap">700,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8864.86px;left:9501.64px;white-space:nowrap">693,879</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:9064.56px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9075.91px;left:432px;white-space:nowrap">Endeavor </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9075.91px;left:1161.38px;white-space:nowrap">Energy </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9075.91px;left:1712.78px;white-space:nowrap">Resources </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9075.91px;left:2522px;letter-spacing:-0.96px;white-space:nowrap">LP </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9075.91px;left:2759.27px;white-space:nowrap">/ </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9075.91px;left:2848.17px;white-space:nowrap">EER </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9075.91px;left:3221.61px;white-space:nowrap">Finance, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9075.91px;left:3879.73px;white-space:nowrap">Inc.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9075.91px;left:4137.63px;white-space:nowrap">,</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9272.39px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9272.39px;left:1082.95px;white-space:nowrap">Bond, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9272.39px;left:1545.53px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9272.39px;left:2008.11px;white-space:nowrap">5.75%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9272.39px;left:2550.69px;white-space:nowrap">1/30/28 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9272.39px;left:3140.98px;letter-spacing:52.73px;white-space:nowrap">......................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9272.39px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9272.39px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9272.39px;left:7485.64px;white-space:nowrap">300,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9272.39px;left:9501.64px;white-space:nowrap">317,550</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9468.88px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9468.88px;left:1082.95px;white-space:nowrap">Note, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9468.88px;left:1509.83px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9468.88px;left:1972.41px;white-space:nowrap">6.625%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9468.88px;left:2603.97px;white-space:nowrap">7/15/25 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9468.88px;left:3234.39px;letter-spacing:52.91px;white-space:nowrap">.....................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9468.88px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9468.88px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9468.88px;left:7485.64px;white-space:nowrap">500,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9468.88px;left:9501.64px;white-space:nowrap">526,320</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:9668.57px;left:328.29px;white-space:nowrap">d,f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9665.36px;left:432px;white-space:nowrap">EnQuest</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9665.36px;left:1099.03px;white-space:nowrap">plc</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9665.36px;left:1303.56px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9665.36px;left:1392.47px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9665.36px;left:1899.42px;white-space:nowrap">Note</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9665.36px;left:2237.39px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9665.36px;left:2326.3px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9665.36px;left:2788.88px;white-space:nowrap">Reg</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9665.36px;left:3126.84px;white-space:nowrap">S, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9665.36px;left:3322.47px;white-space:nowrap">PIK, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9665.36px;left:3669.27px;white-space:nowrap">7</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9665.36px;left:3758.25px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9665.36px;left:3900.52px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9665.36px;left:3989.42px;white-space:nowrap">10/15/23</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9665.36px;left:4635.59px;letter-spacing:62.79px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9665.36px;left:5485.56px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9665.36px;left:5992.52px;white-space:nowrap">Kingdom</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9665.36px;left:7485.64px;white-space:nowrap">630,593</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9665.36px;left:9501.64px;white-space:nowrap">525,512</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9861.84px;left:432px;white-space:nowrap">HighPoint</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9861.84px;left:1170.2px;white-space:nowrap">Operating </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9861.84px;left:1917.31px;white-space:nowrap">Corp.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9861.84px;left:2308.56px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9861.84px;left:2397.47px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9861.84px;left:2904.42px;white-space:nowrap">Note</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9861.84px;left:3242.39px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9861.84px;left:3331.3px;white-space:nowrap">8.75</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9861.84px;left:3642.7px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9861.84px;left:3784.97px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9861.84px;left:3873.88px;white-space:nowrap">6/15/25</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9861.84px;left:4448.76px;letter-spacing:59.33px;white-space:nowrap">........</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9876.4px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9876.4px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9876.4px;left:7352.2px;white-space:nowrap">1,253,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9876.4px;left:9501.64px;white-space:nowrap">657,825</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:10076.1px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10087.45px;left:432px;white-space:nowrap">Hilcorp</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10087.45px;left:974.34px;white-space:nowrap">Energy </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10087.45px;left:1525.75px;white-space:nowrap">I </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10087.45px;left:1614.66px;letter-spacing:-0.96px;white-space:nowrap">LP </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10087.45px;left:1851.92px;white-space:nowrap">/ </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10087.45px;left:1940.83px;white-space:nowrap">Hilcorp</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10087.45px;left:2483.17px;white-space:nowrap">Finance </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10087.45px;left:3096.84px;white-space:nowrap">Co.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10087.45px;left:3345.83px;white-space:nowrap">,</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10283.93px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10283.93px;left:1082.95px;white-space:nowrap">Bond, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10283.93px;left:1545.53px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10283.93px;left:2008.11px;white-space:nowrap">6%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10283.93px;left:2328.27px;white-space:nowrap">2/01/31 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10283.93px;left:2954.15px;letter-spacing:52.42px;white-space:nowrap">........................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10283.93px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10283.93px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10283.93px;left:7485.64px;white-space:nowrap">200,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10283.93px;left:9501.64px;white-space:nowrap">203,631</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10480.42px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10480.42px;left:1082.95px;white-space:nowrap">Note, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10480.42px;left:1509.83px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10480.42px;left:1972.41px;white-space:nowrap">5.75%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10480.42px;left:2514.98px;white-space:nowrap">2/01/29 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10480.42px;left:3140.98px;letter-spacing:52.73px;white-space:nowrap">......................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10480.42px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10480.42px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10480.42px;left:7485.64px;white-space:nowrap">200,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10480.42px;left:9501.64px;white-space:nowrap">204,125</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:10680.11px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10676.9px;left:432px;white-space:nowrap">Martin </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10676.9px;left:920.98px;white-space:nowrap">Midstream </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10676.9px;left:1712.23px;white-space:nowrap">Partners </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10676.9px;left:2361.38px;letter-spacing:-0.96px;white-space:nowrap">LP </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10676.9px;left:2598.64px;white-space:nowrap">/ </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10676.9px;left:2687.55px;white-space:nowrap">Martin </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10676.9px;left:3176.53px;white-space:nowrap">Midstream </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10676.9px;left:3967.78px;white-space:nowrap">Finance </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10676.9px;left:4581.45px;white-space:nowrap">Corp.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10676.9px;left:4972.7px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10868.9px;left:576px;white-space:nowrap">Secured </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10868.9px;left:1216.39px;white-space:nowrap">Note</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10868.9px;left:1554.36px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10868.9px;left:1643.27px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10868.9px;left:2105.84px;letter-spacing:-2.97px;white-space:nowrap">11.5</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10868.9px;left:2405.38px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10868.9px;left:2547.64px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10868.9px;left:2636.55px;white-space:nowrap">2/28/25</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10868.9px;left:3234.39px;letter-spacing:52.91px;white-space:nowrap">.....................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10868.9px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10868.9px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10868.9px;left:7485.64px;white-space:nowrap">776,232</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10868.9px;left:9501.64px;white-space:nowrap">787,875</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:11068.6px;left:250.5px;white-space:nowrap">d,f,g</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11065.39px;left:432px;white-space:nowrap">Murray </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11065.39px;left:974.27px;white-space:nowrap">Energy </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11065.39px;left:1525.67px;white-space:nowrap">Corp.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11065.39px;left:1916.92px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11065.39px;left:2005.83px;white-space:nowrap">Secured </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11065.39px;left:2646.22px;white-space:nowrap">Note</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11065.39px;left:2984.19px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11065.39px;left:3073.09px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11065.39px;left:3535.67px;white-space:nowrap">PIK, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11065.39px;left:3882.47px;white-space:nowrap">12</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11065.39px;left:4060.44px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11065.39px;left:4202.7px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11065.39px;left:4291.61px;white-space:nowrap">4/15/24</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11065.39px;left:4915.83px;letter-spacing:76.62px;white-space:nowrap">...</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11065.39px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11065.39px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11065.39px;left:7485.64px;white-space:nowrap">757,734</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11065.39px;left:9679.61px;white-space:nowrap">3,864</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11276.43px;left:432px;white-space:nowrap">Occidental </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11276.43px;left:1232.39px;white-space:nowrap">Petroleum </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11276.43px;left:2006.06px;white-space:nowrap">Corp.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11276.43px;left:2397.31px;white-space:nowrap">,</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11472.92px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11472.92px;left:1082.95px;white-space:nowrap">Bond, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11472.92px;left:1545.53px;white-space:nowrap">6.45%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11472.92px;left:2088.11px;white-space:nowrap">9/15/36 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11472.92px;left:2673.91px;letter-spacing:52.03px;white-space:nowrap">...........................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11472.92px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11472.92px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11472.92px;left:7485.64px;white-space:nowrap">700,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11472.92px;left:9501.64px;white-space:nowrap">799,050</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:11672.61px;left:380.12px;white-space:nowrap">h</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11669.4px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11669.4px;left:1082.95px;white-space:nowrap">Note, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11669.4px;left:1509.83px;white-space:nowrap">FRN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11669.4px;left:1927.56px;white-space:nowrap">1.644%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11669.4px;left:2559.13px;white-space:nowrap">(3-month </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11669.4px;left:3243.81px;white-space:nowrap">USD </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11669.4px;left:3626.08px;white-space:nowrap">LIBOR </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11669.4px;left:4150.69px;white-space:nowrap">+ </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11669.4px;left:4288.58px;white-space:nowrap">1.45%), </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11861.4px;left:576px;white-space:nowrap">8/15/22 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11861.4px;left:1179.3px;letter-spacing:50.89px;white-space:nowrap">...........................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11861.4px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11861.4px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11861.4px;left:7485.64px;white-space:nowrap">400,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11861.4px;left:9501.64px;white-space:nowrap">391,140</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:12057.88px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:12057.88px;left:1082.95px;white-space:nowrap">Note, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:12057.88px;left:1509.83px;white-space:nowrap">8.875%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:12057.88px;left:2141.39px;white-space:nowrap">7/15/30 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:12057.88px;left:2767.33px;letter-spacing:52.15px;white-space:nowrap">..........................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:12057.88px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:12057.88px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:12057.88px;left:7352.2px;white-space:nowrap">1,100,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:12057.88px;left:9368.2px;white-space:nowrap">1,407,593</div></div>
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</div></div><div data-page="" style="page-break-after:always;margin:-8px;position:relative;height:928.8px;width:712.8px;transform-origin:top left;transform:scale(1.2,1.2)"><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:7910.95px;letter-spacing:10.67px;white-space:nowrap">Franklin </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:8704.11px;letter-spacing:10.32px;white-space:nowrap">Universal </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:9597.08px;letter-spacing:9.15px;white-space:nowrap">Trust</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="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:3572.9px;white-space:nowrap">The </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:3835.48px;white-space:nowrap">accompanying </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:4718.06px;white-space:nowrap">notes </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:5075.56px;white-space:nowrap">are </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:5301.65px;white-space:nowrap">an </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:5484.08px;white-space:nowrap">integral </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:5950.87px;white-space:nowrap">part </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:6213.45px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:6359.39px;white-space:nowrap">these </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:6716.89px;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:7234.78px;white-space:nowrap">statements.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:8069.08px;white-space:nowrap">Semiannual </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:571.18px;white-space:nowrap">15</div></div>
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			<div style="color:#ffffff;font-family:Arial, sans-serif;font-size:80px;position:absolute;top:280.75px;left:0px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:80px;position:absolute;top:280.75px;left:432px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:213.02px;left:6010.72px;white-space:nowrap">Country</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:80px;position:absolute;top:280.75px;left:8451.51px;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">Corporate </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:499.31px;left:1443.23px;white-space:nowrap">Bonds </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:533.18px;left:2120.96px;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">Oil, </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:744.23px;left:734.27px;white-space:nowrap">Gas </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:744.23px;left:1081.14px;white-space:nowrap">&amp; </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:744.23px;left:1241.14px;white-space:nowrap">Consumable </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:744.23px;left:2245.75px;white-space:nowrap">Fuels </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:744.23px;left:2708.09px;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">Occidental </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:955.27px;left:1232.39px;white-space:nowrap">Petroleum </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:955.27px;left:2006.06px;white-space:nowrap">Corp., </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:955.27px;left:2486.22px;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">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1151.76px;left:1082.95px;white-space:nowrap">Note, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1151.76px;left:1509.83px;white-space:nowrap">6.625%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1151.76px;left:2141.39px;white-space:nowrap">9/01/30 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1151.76px;left:2767.33px;letter-spacing:52.15px;white-space:nowrap">..........................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1151.76px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1151.76px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1151.76px;left:7485.64px;white-space:nowrap">200,000</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">227,800</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1348.24px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1348.24px;left:1082.95px;white-space:nowrap">Note, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1348.24px;left:1509.83px;white-space:nowrap">6.125%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1348.24px;left:2141.39px;white-space:nowrap">1/01/31 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1348.24px;left:2767.33px;letter-spacing:52.15px;white-space:nowrap">..........................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1348.24px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1348.24px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1348.24px;left:7485.64px;white-space:nowrap">300,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1348.24px;left:9501.64px;white-space:nowrap">335,723</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1544.72px;left:432px;letter-spacing:-0.72px;white-space:nowrap">QEP </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1544.72px;left:811.45px;white-space:nowrap">Resources, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1544.72px;left:1665.13px;white-space:nowrap">Inc.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1544.72px;left:1923.02px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1544.72px;left:2011.92px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1544.72px;left:2518.88px;white-space:nowrap">Bond</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1544.72px;left:2892.55px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1544.72px;left:2981.45px;white-space:nowrap">5.25</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1544.72px;left:3292.86px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1544.72px;left:3435.13px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1544.72px;left:3524.03px;white-space:nowrap">5/01/23</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1544.72px;left:4075.11px;letter-spacing:55.87px;white-space:nowrap">............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1559.29px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1559.29px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1559.29px;left:7485.64px;white-space:nowrap">700,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1559.29px;left:9501.64px;white-space:nowrap">743,575</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1770.33px;left:432px;white-space:nowrap">Sunoco </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1770.33px;left:1019.11px;letter-spacing:-0.96px;white-space:nowrap">LP </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1770.33px;left:1256.38px;white-space:nowrap">/ </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1770.33px;left:1345.28px;white-space:nowrap">Sunoco </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1770.33px;left:1932.39px;white-space:nowrap">Finance </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1770.33px;left:2546.06px;white-space:nowrap">Corp.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1770.33px;left:2937.31px;white-space:nowrap">,</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1966.81px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1966.81px;left:1082.95px;white-space:nowrap">Note, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1966.81px;left:1509.83px;white-space:nowrap">6%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1966.81px;left:1829.98px;white-space:nowrap">4/15/27 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1966.81px;left:2487.09px;letter-spacing:51.82px;white-space:nowrap">.............................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1966.81px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1966.81px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1966.81px;left:7352.2px;white-space:nowrap">1,000,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1966.81px;left:9368.2px;white-space:nowrap">1,042,200</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:2166.51px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2163.3px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2163.3px;left:1082.95px;white-space:nowrap">Note, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2163.3px;left:1509.83px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2163.3px;left:1972.41px;white-space:nowrap">4.5%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2163.3px;left:2426px;white-space:nowrap">5/15/29 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2163.3px;left:3047.57px;letter-spacing:52.57px;white-space:nowrap">.......................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2163.3px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2163.3px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2163.3px;left:7485.64px;white-space:nowrap">200,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2163.3px;left:9501.64px;white-space:nowrap">200,375</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:2362.99px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2359.78px;left:432px;letter-spacing:-0.48px;white-space:nowrap">Viper </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2359.78px;left:847.08px;white-space:nowrap">Energy </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2359.78px;left:1398.48px;white-space:nowrap">Partners </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2359.78px;left:2047.63px;letter-spacing:-10.31px;white-space:nowrap">LP</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2359.78px;left:2222.7px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2359.78px;left:2311.61px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2359.78px;left:2818.56px;white-space:nowrap">Note</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2359.78px;left:3156.53px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2359.78px;left:3245.44px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2359.78px;left:3708.02px;white-space:nowrap">5.375</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2359.78px;left:4108.41px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2359.78px;left:4250.67px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2359.78px;left:4339.58px;letter-spacing:-1.48px;white-space:nowrap">11/01/27</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2359.78px;left:5009.24px;letter-spacing:90.45px;white-space:nowrap">..</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2359.78px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2359.78px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2359.78px;left:7485.64px;white-space:nowrap">400,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2359.78px;left:9501.64px;white-space:nowrap">421,750</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2643.55px;left:9279.22px;white-space:nowrap">20,512,321</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2941.87px;left:432px;white-space:nowrap">Personal </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2941.87px;left:1152.31px;white-space:nowrap">Products </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2941.87px;left:1890.2px;white-space:nowrap">0.1%</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:3141.57px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3138.36px;left:432px;white-space:nowrap">Prestige </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3138.36px;left:1063.41px;white-space:nowrap">Brands, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3138.36px;left:1659.27px;white-space:nowrap">Inc.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3138.36px;left:1917.16px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3138.36px;left:2006.06px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3138.36px;left:2513.02px;white-space:nowrap">Bond</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3138.36px;left:2886.69px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3138.36px;left:2975.59px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3138.36px;left:3438.17px;white-space:nowrap">3.75</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3138.36px;left:3749.58px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3138.36px;left:3891.84px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3138.36px;left:3980.75px;white-space:nowrap">4/01/31</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3138.36px;left:4542.18px;letter-spacing:60.81px;white-space:nowrap">.......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3138.36px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3138.36px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3138.36px;left:7485.64px;white-space:nowrap">300,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3138.36px;left:9501.64px;white-space:nowrap">293,310</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3436.68px;left:432px;white-space:nowrap">Pharmaceuticals </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3436.68px;left:1748.25px;white-space:nowrap">2.0%</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:3636.38px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3633.17px;left:432px;white-space:nowrap">Bausch </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3633.17px;left:1010.12px;white-space:nowrap">Health </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3633.17px;left:1508.25px;white-space:nowrap">Americas, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3633.17px;left:2263.95px;white-space:nowrap">Inc.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3633.17px;left:2521.84px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3633.17px;left:2610.75px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3633.17px;left:3117.7px;white-space:nowrap">Note</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3633.17px;left:3455.67px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3633.17px;left:3544.58px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3633.17px;left:4007.16px;white-space:nowrap">9.25</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3633.17px;left:4318.56px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3633.17px;left:4460.83px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3633.17px;left:4549.73px;white-space:nowrap">4/01/26</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3633.17px;left:5102.66px;letter-spacing:131.93px;white-space:nowrap">.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3633.17px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3633.17px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3633.17px;left:7352.2px;white-space:nowrap">1,400,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3633.17px;left:9368.2px;white-space:nowrap">1,553,650</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:3832.86px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3844.21px;left:432px;white-space:nowrap">Bausch </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3844.21px;left:1010.12px;white-space:nowrap">Health </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3844.21px;left:1517.08px;white-space:nowrap">Cos., </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3844.21px;left:1934.97px;white-space:nowrap">Inc.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3844.21px;left:2192.86px;white-space:nowrap">,</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4040.7px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4040.7px;left:1082.95px;white-space:nowrap">Bond, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4040.7px;left:1545.53px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4040.7px;left:2008.11px;white-space:nowrap">6.125%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4040.7px;left:2639.67px;white-space:nowrap">4/15/25 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4040.7px;left:3234.39px;letter-spacing:52.91px;white-space:nowrap">.....................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4040.7px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4040.7px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4040.7px;left:7485.64px;white-space:nowrap">400,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4040.7px;left:9501.64px;white-space:nowrap">409,984</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4237.18px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4237.18px;left:1082.95px;white-space:nowrap">Secured </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4237.18px;left:1723.34px;white-space:nowrap">Note, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4237.18px;left:2150.22px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4237.18px;left:2612.8px;white-space:nowrap">7%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4237.18px;left:2932.95px;white-space:nowrap">3/15/24 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4237.18px;left:3514.63px;letter-spacing:53.57px;white-space:nowrap">..................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4237.18px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4237.18px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4237.18px;left:7485.64px;white-space:nowrap">200,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4237.18px;left:9501.64px;white-space:nowrap">204,540</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:4436.88px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4448.23px;left:432px;white-space:nowrap">Endo </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4448.23px;left:850.12px;white-space:nowrap">Dac</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4448.23px;left:1179.11px;white-space:nowrap">/ </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4448.23px;left:1268.02px;white-space:nowrap">Endo </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4448.23px;left:1686.14px;white-space:nowrap">Finance </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4448.23px;left:2299.81px;white-space:nowrap">LLC </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4448.23px;left:2637.78px;white-space:nowrap">/ </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4448.23px;left:2726.69px;white-space:nowrap">Endo </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4448.23px;left:3144.81px;white-space:nowrap">Finco</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4448.23px;left:3536.06px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4448.23px;left:3624.97px;white-space:nowrap">Inc.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4448.23px;left:3882.86px;white-space:nowrap">,</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4644.71px;left:576px;white-space:nowrap">Secured </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4644.71px;left:1216.39px;white-space:nowrap">Note, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4644.71px;left:1643.27px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4644.71px;left:2105.84px;white-space:nowrap">9.5%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4644.71px;left:2559.44px;white-space:nowrap">7/31/27 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4644.71px;left:3140.98px;letter-spacing:52.73px;white-space:nowrap">......................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4644.71px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4644.71px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4644.71px;left:7485.64px;white-space:nowrap">502,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4644.71px;left:9501.64px;white-space:nowrap">566,319</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4841.19px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4841.19px;left:1082.95px;white-space:nowrap">Note, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4841.19px;left:1509.83px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4841.19px;left:1972.41px;white-space:nowrap">6%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4841.19px;left:2292.56px;white-space:nowrap">6/30/28 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4841.19px;left:2954.15px;letter-spacing:52.42px;white-space:nowrap">........................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4841.19px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4841.19px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4841.19px;left:7485.64px;white-space:nowrap">689,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4841.19px;left:9501.64px;white-space:nowrap">605,631</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:5040.89px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5037.68px;left:432px;white-space:nowrap">Par </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5037.68px;left:725.44px;white-space:nowrap">Pharmaceutical, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5037.68px;left:1917.08px;white-space:nowrap">Inc.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5037.68px;left:2174.97px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5037.68px;left:2263.88px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5037.68px;left:2770.83px;white-space:nowrap">Secured </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5037.68px;left:3411.22px;white-space:nowrap">Note</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5037.68px;left:3749.19px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5037.68px;left:3838.09px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5037.68px;left:4300.67px;white-space:nowrap">7.5</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5037.68px;left:4523.09px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5037.68px;left:4665.36px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5037.68px;left:4754.27px;white-space:nowrap">4/01/27</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5037.68px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5037.68px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5037.68px;left:7485.64px;white-space:nowrap">225,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5037.68px;left:9501.64px;white-space:nowrap">242,170</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5234.16px;left:432px;letter-spacing:-4.43px;white-space:nowrap">Teva</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5234.16px;left:814.42px;white-space:nowrap">Pharmaceutical </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5234.16px;left:1961.61px;white-space:nowrap">Finance </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5234.16px;left:2575.28px;white-space:nowrap">Netherlands </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5234.16px;left:3482.47px;white-space:nowrap">III </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5234.16px;left:3660.28px;letter-spacing:-7.34px;white-space:nowrap">BV</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5234.16px;left:3859.03px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5234.16px;left:3947.94px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5234.16px;left:4454.89px;white-space:nowrap">Note</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5234.16px;left:4792.86px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5426.16px;left:576px;white-space:nowrap">7.125</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5426.16px;left:976.39px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5426.16px;left:1118.66px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5426.16px;left:1207.56px;white-space:nowrap">1/31/25</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5426.16px;left:1741.39px;letter-spacing:51.2px;white-space:nowrap">.....................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5426.16px;left:6232.75px;white-space:nowrap">Israel</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5426.16px;left:7485.64px;white-space:nowrap">500,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5426.16px;left:9501.64px;white-space:nowrap">542,185</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5709.93px;left:9368.2px;white-space:nowrap">4,124,479</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6008.25px;left:432px;white-space:nowrap">Real </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6008.25px;left:814.42px;white-space:nowrap">Estate </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6008.25px;left:1339.11px;white-space:nowrap">Management </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6008.25px;left:2361.53px;white-space:nowrap">&amp; </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6008.25px;left:2521.53px;white-space:nowrap">Development </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6008.25px;left:3570.67px;white-space:nowrap">0.5%</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:6207.95px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6204.74px;left:432px;white-space:nowrap">Five </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6204.74px;left:778.72px;white-space:nowrap">Point </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6204.74px;left:1187.86px;white-space:nowrap">Operating </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6204.74px;left:1934.97px;white-space:nowrap">Co. </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6204.74px;left:2228.41px;letter-spacing:-0.96px;white-space:nowrap">LP </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6204.74px;left:2465.67px;white-space:nowrap">/ </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6204.74px;left:2554.58px;white-space:nowrap">Five </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6204.74px;left:2901.3px;white-space:nowrap">Point </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6204.74px;left:3310.44px;white-space:nowrap">Capital </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6204.74px;left:3852.94px;white-space:nowrap">Corp.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6204.74px;left:4244.19px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6204.74px;left:4333.09px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6204.74px;left:4840.05px;white-space:nowrap">Note</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6204.74px;left:5178.02px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6396.74px;left:576px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6396.74px;left:1038.58px;white-space:nowrap">7.875</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6396.74px;left:1438.97px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6396.74px;left:1581.23px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6396.74px;left:1670.14px;letter-spacing:-1.48px;white-space:nowrap">11/15/25</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6396.74px;left:2300.26px;letter-spacing:51.64px;white-space:nowrap">...............................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6396.74px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6396.74px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6396.74px;left:7352.2px;white-space:nowrap">1,000,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6396.74px;left:9368.2px;white-space:nowrap">1,057,085</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6695.06px;left:432px;white-space:nowrap">Semiconductors </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6695.06px;left:1730.05px;white-space:nowrap">&amp; </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6695.06px;left:1890.05px;white-space:nowrap">Semiconductor </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6695.06px;left:3099.11px;white-space:nowrap">Equipment </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6695.06px;left:3970.2px;white-space:nowrap">0.7%</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:6894.76px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6891.55px;left:432px;white-space:nowrap">Amkor </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6891.55px;left:935.83px;letter-spacing:-2.47px;white-space:nowrap">Technology, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6891.55px;left:1822.31px;white-space:nowrap">Inc.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6891.55px;left:2080.2px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6891.55px;left:2169.11px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6891.55px;left:2676.06px;white-space:nowrap">Note</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6891.55px;left:3014.03px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6891.55px;left:3102.94px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6891.55px;left:3565.52px;white-space:nowrap">6.625</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6891.55px;left:3965.91px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6891.55px;left:4108.17px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6891.55px;left:4197.08px;white-space:nowrap">9/15/27</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6891.55px;left:4730.91px;letter-spacing:65.55px;white-space:nowrap">.....</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6891.55px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6891.55px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6891.55px;left:7352.2px;white-space:nowrap">1,000,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6891.55px;left:9368.2px;white-space:nowrap">1,086,250</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:7091.24px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7088.03px;left:432px;white-space:nowrap">ON </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7088.03px;left:716.45px;white-space:nowrap">Semiconductor </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7088.03px;left:1828.09px;white-space:nowrap">Corp.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7088.03px;left:2219.34px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7088.03px;left:2308.25px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7088.03px;left:2815.2px;white-space:nowrap">Note</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7088.03px;left:3153.17px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7088.03px;left:3242.08px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7088.03px;left:3704.66px;white-space:nowrap">3.875</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7088.03px;left:4105.05px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7088.03px;left:4247.31px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7088.03px;left:4336.22px;white-space:nowrap">9/01/28</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7088.03px;left:4915.83px;letter-spacing:76.62px;white-space:nowrap">...</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7088.03px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7088.03px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7088.03px;left:7485.64px;white-space:nowrap">300,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7088.03px;left:9501.64px;white-space:nowrap">313,875</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7371.8px;left:9368.2px;white-space:nowrap">1,400,125</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:7670.12px;left:432px;white-space:nowrap">Software </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:7670.12px;left:1152.16px;white-space:nowrap">2.3%</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:7869.82px;left:328.29px;white-space:nowrap">d,f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7866.61px;left:432px;white-space:nowrap">Anagram </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7866.61px;left:1125.67px;white-space:nowrap">International, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7866.61px;left:2095.2px;white-space:nowrap">Inc. </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7866.61px;left:2397.55px;white-space:nowrap">/ </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7866.61px;left:2477.63px;white-space:nowrap">Anagram </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7866.61px;left:3171.3px;white-space:nowrap">Holdings </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7866.61px;left:3838.33px;white-space:nowrap">LLC</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7866.61px;left:4131.84px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7866.61px;left:4220.75px;white-space:nowrap">Secured </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7866.61px;left:4861.14px;white-space:nowrap">Note</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7866.61px;left:5199.11px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8058.61px;left:576px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8058.61px;left:1038.58px;white-space:nowrap">PIK, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8058.61px;left:1385.38px;white-space:nowrap">10</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8058.61px;left:1563.34px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8058.61px;left:1705.61px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8058.61px;left:1794.52px;white-space:nowrap">8/15/26</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8058.61px;left:2393.68px;letter-spacing:51.73px;white-space:nowrap">..............................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8058.61px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8058.61px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8058.61px;left:7485.64px;white-space:nowrap">205,421</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8058.61px;left:9501.64px;white-space:nowrap">208,502</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:8258.3px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8255.09px;left:432px;white-space:nowrap">Blackboard, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8255.09px;left:1321.38px;white-space:nowrap">Inc.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8255.09px;left:1579.27px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8255.09px;left:1668.17px;white-space:nowrap">Secured </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8255.09px;left:2308.56px;white-space:nowrap">Note</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8255.09px;left:2646.53px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8255.09px;left:2735.44px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8255.09px;left:3198.02px;white-space:nowrap">10.375</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8255.09px;left:3687.39px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8255.09px;left:3829.66px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8255.09px;left:3918.56px;letter-spacing:-1.48px;white-space:nowrap">11/15/24</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8255.09px;left:4542.18px;letter-spacing:60.81px;white-space:nowrap">.......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8255.09px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8255.09px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8255.09px;left:7352.2px;white-space:nowrap">1,600,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8255.09px;left:9368.2px;white-space:nowrap">1,685,000</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:8454.78px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8451.57px;left:432px;white-space:nowrap">Camelot </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8451.57px;left:1072.23px;white-space:nowrap">Finance </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8451.57px;left:1685.91px;white-space:nowrap">SA</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8451.57px;left:1899.34px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8451.57px;left:1988.25px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8451.57px;left:2495.2px;white-space:nowrap">Secured </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8451.57px;left:3135.59px;white-space:nowrap">Note</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8451.57px;left:3473.56px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8451.57px;left:3562.47px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8451.57px;left:4025.05px;white-space:nowrap">4.5</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8451.57px;left:4247.47px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8451.57px;left:4389.73px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8451.57px;left:4478.64px;letter-spacing:-1.48px;white-space:nowrap">11/01/26</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8451.57px;left:5102.66px;letter-spacing:131.93px;white-space:nowrap">.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8451.57px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8451.57px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8451.57px;left:7485.64px;white-space:nowrap">900,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8451.57px;left:9501.64px;white-space:nowrap">935,438</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:8651.27px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8648.06px;left:432px;white-space:nowrap">Rocket </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8648.06px;left:974.42px;white-space:nowrap">Software, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8648.06px;left:1694.73px;white-space:nowrap">Inc.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8648.06px;left:1952.63px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8648.06px;left:2041.53px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8648.06px;left:2548.48px;white-space:nowrap">Note</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8648.06px;left:2886.45px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8648.06px;left:2975.36px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8648.06px;left:3437.94px;white-space:nowrap">6.5</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8648.06px;left:3660.36px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8648.06px;left:3802.63px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8648.06px;left:3891.53px;white-space:nowrap">2/15/29</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8648.06px;left:4448.76px;letter-spacing:59.33px;white-space:nowrap">........</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8648.06px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8648.06px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8648.06px;left:7485.64px;white-space:nowrap">800,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8648.06px;left:9501.64px;white-space:nowrap">797,500</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:8847.75px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8844.54px;left:432px;white-space:nowrap">ZoomInfo</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8844.54px;left:1149.42px;letter-spacing:-1.36px;white-space:nowrap">Technologies </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8844.54px;left:2127.86px;white-space:nowrap">LLC/</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8844.54px;left:2465.83px;white-space:nowrap">ZoomInfo</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8844.54px;left:3186.14px;white-space:nowrap">Finance </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8844.54px;left:3799.81px;white-space:nowrap">Corp.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8844.54px;left:4191.06px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8844.54px;left:4279.97px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8844.54px;left:4786.92px;white-space:nowrap">Note</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8844.54px;left:5124.89px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9036.54px;left:576px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9036.54px;left:1038.58px;white-space:nowrap">3.875</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9036.54px;left:1438.97px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9036.54px;left:1581.23px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9036.54px;left:1670.14px;white-space:nowrap">2/01/29</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9036.54px;left:2206.85px;letter-spacing:51.55px;white-space:nowrap">................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9036.54px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9036.54px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9036.54px;left:7352.2px;white-space:nowrap">1,200,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9036.54px;left:9368.2px;white-space:nowrap">1,194,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9320.31px;left:9368.2px;white-space:nowrap">4,820,440</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:9618.63px;left:432px;white-space:nowrap">Specialty </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:9618.63px;left:1179.03px;white-space:nowrap">Retail </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:9618.63px;left:1659.19px;white-space:nowrap">1.6%</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:9818.33px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9815.12px;left:432px;letter-spacing:-2.97px;white-space:nowrap">L </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9815.12px;left:559.5px;white-space:nowrap">Brands, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9815.12px;left:1155.36px;white-space:nowrap">Inc.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9815.12px;left:1413.25px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9815.12px;left:1502.16px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9815.12px;left:2009.11px;white-space:nowrap">Note</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9815.12px;left:2347.08px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9815.12px;left:2435.98px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9815.12px;left:2898.56px;white-space:nowrap">6.625</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9815.12px;left:3298.95px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9815.12px;left:3441.22px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9815.12px;left:3530.13px;white-space:nowrap">10/01/30</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9815.12px;left:4168.52px;letter-spacing:56.5px;white-space:nowrap">...........</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9815.12px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9815.12px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9815.12px;left:7485.64px;white-space:nowrap">500,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9815.12px;left:9501.64px;white-space:nowrap">561,042</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:10014.81px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10026.16px;left:432px;white-space:nowrap">Lithia </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10026.16px;left:858.95px;white-space:nowrap">Motors, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10026.16px;left:1436.84px;white-space:nowrap">Inc.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10026.16px;left:1694.73px;white-space:nowrap">,</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10222.65px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10222.65px;left:1082.95px;white-space:nowrap">Bond, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10222.65px;left:1545.53px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10222.65px;left:2008.11px;white-space:nowrap">4.375%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10222.65px;left:2639.67px;white-space:nowrap">1/15/31 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10222.65px;left:3234.39px;letter-spacing:52.91px;white-space:nowrap">.....................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10222.65px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10222.65px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10222.65px;left:7485.64px;white-space:nowrap">300,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10222.65px;left:9501.64px;white-space:nowrap">315,562</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10419.13px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10419.13px;left:1082.95px;white-space:nowrap">Note, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10419.13px;left:1509.83px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10419.13px;left:1972.41px;white-space:nowrap">4.625%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10419.13px;left:2603.97px;white-space:nowrap">12/15/27 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10419.13px;left:3327.81px;letter-spacing:53.11px;white-space:nowrap">....................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10419.13px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10419.13px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10419.13px;left:7485.64px;white-space:nowrap">400,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10419.13px;left:9501.64px;white-space:nowrap">420,750</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10615.62px;left:432px;white-space:nowrap">Murphy </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10615.62px;left:1009.97px;white-space:nowrap">Oil </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10615.62px;left:1249.97px;white-space:nowrap">USA, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10615.62px;left:1667.86px;white-space:nowrap">Inc.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10615.62px;left:1925.75px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10615.62px;left:2014.66px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10615.62px;left:2521.61px;white-space:nowrap">Note</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10615.62px;left:2859.58px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10615.62px;left:2948.48px;white-space:nowrap">4.75</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10615.62px;left:3259.89px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10615.62px;left:3402.16px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10615.62px;left:3491.06px;white-space:nowrap">9/15/29</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10615.62px;left:4075.11px;letter-spacing:55.87px;white-space:nowrap">............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10630.18px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10630.18px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10630.18px;left:7485.64px;white-space:nowrap">700,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10630.18px;left:9501.64px;white-space:nowrap">752,371</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:10829.87px;left:328.29px;white-space:nowrap">f,h</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10826.66px;left:432px;white-space:nowrap">Party </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10826.66px;left:849.89px;white-space:nowrap">City </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10826.66px;left:1169.89px;white-space:nowrap">Holdings, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10826.66px;left:1881.38px;white-space:nowrap">Inc.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10826.66px;left:2139.27px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10826.66px;left:2228.17px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10826.66px;left:2735.13px;white-space:nowrap">Secured </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10826.66px;left:3375.52px;white-space:nowrap">Note</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10826.66px;left:3713.48px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10826.66px;left:3802.39px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10826.66px;left:4264.97px;white-space:nowrap">FRN</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10826.66px;left:4593.8px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10826.66px;left:4682.7px;white-space:nowrap">5.75</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10826.66px;left:4994.11px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10826.66px;left:5136.38px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11018.66px;left:576px;white-space:nowrap">(</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11018.66px;left:629.28px;white-space:nowrap">6-month </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11018.66px;left:1260.69px;white-space:nowrap">USD </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11018.66px;left:1642.95px;white-space:nowrap">LIBOR</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11018.66px;left:2167.56px;white-space:nowrap">+ </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11018.66px;left:2305.45px;white-space:nowrap">5</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11018.66px;left:2394.44px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11018.66px;left:2536.7px;white-space:nowrap">), </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11018.66px;left:2678.89px;white-space:nowrap">7/15/25</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11018.66px;left:3234.39px;letter-spacing:52.91px;white-space:nowrap">.....................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11018.66px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11018.66px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11018.66px;left:7485.64px;white-space:nowrap">370,005</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11018.66px;left:9501.64px;white-space:nowrap">341,330</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:11218.36px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11215.14px;left:432px;letter-spacing:-0.59px;white-space:nowrap">Rent-A-Center, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11215.14px;left:1543.56px;white-space:nowrap">Inc.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11215.14px;left:1801.45px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11215.14px;left:1890.36px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11215.14px;left:2397.31px;white-space:nowrap">Note</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11215.14px;left:2735.28px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11215.14px;left:2824.19px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11215.14px;left:3286.77px;white-space:nowrap">6.375</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11215.14px;left:3687.16px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11215.14px;left:3829.42px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11215.14px;left:3918.33px;white-space:nowrap">2/15/29</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11215.14px;left:4542.18px;letter-spacing:60.81px;white-space:nowrap">.......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11215.14px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11215.14px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11215.14px;left:7352.2px;white-space:nowrap">1,000,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11215.14px;left:9368.2px;white-space:nowrap">1,042,610</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11498.91px;left:9368.2px;white-space:nowrap">3,433,665</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">Semiannual </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:729.38px;white-space:nowrap">Report</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:1313.28px;white-space:nowrap">The </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:1575.86px;white-space:nowrap">accompanying </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:2458.44px;white-space:nowrap">notes </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:2815.94px;white-space:nowrap">are </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:3042.03px;white-space:nowrap">an </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:3224.45px;white-space:nowrap">integral </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:3691.25px;white-space:nowrap">part </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:3953.83px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:4099.77px;white-space:nowrap">these </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:4457.27px;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:4975.16px;white-space:nowrap">statements.</div></div>
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			<div style="color:#ffffff;font-family:Arial, sans-serif;font-size:80px;position:absolute;top:280.75px;left:0px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:80px;position:absolute;top:280.75px;left:432px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:213.02px;left:6010.72px;white-space:nowrap">Country</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:80px;position:absolute;top:280.75px;left:8451.51px;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">Corporate </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:499.31px;left:1443.23px;white-space:nowrap">Bonds </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:533.18px;left:2120.96px;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;letter-spacing:-1.08px;white-space:nowrap">Technology </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:744.23px;left:1362.39px;white-space:nowrap">Hardware, </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:744.23px;left:2180.52px;white-space:nowrap">Storage </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:744.23px;left:2820.67px;white-space:nowrap">&amp; </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:744.23px;left:2980.67px;white-space:nowrap">Peripherals </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:744.23px;left:3896.69px;white-space:nowrap">0.2%</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:943.92px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:955.27px;left:432px;white-space:nowrap">Dell </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:955.27px;left:752.08px;white-space:nowrap">International </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:955.27px;left:1677.16px;white-space:nowrap">LLC </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:955.27px;left:2015.13px;white-space:nowrap">/ </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:955.27px;left:2104.03px;white-space:nowrap">EMC </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:955.27px;left:2504.03px;white-space:nowrap">Corp.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:955.27px;left:2895.28px;white-space:nowrap">,</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1151.76px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1151.76px;left:1082.95px;white-space:nowrap">Note, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1151.76px;left:1509.83px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1151.76px;left:1972.41px;white-space:nowrap">5.875%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1151.76px;left:2603.97px;white-space:nowrap">6/15/21 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1151.76px;left:3234.39px;letter-spacing:52.91px;white-space:nowrap">.....................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1151.76px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1151.76px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1151.76px;left:7485.64px;white-space:nowrap">132,000</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">132,165</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1348.24px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1348.24px;left:1082.95px;white-space:nowrap">Note, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1348.24px;left:1509.83px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1348.24px;left:1972.41px;white-space:nowrap">7.125%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1348.24px;left:2603.97px;white-space:nowrap">6/15/24 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1348.24px;left:3234.39px;letter-spacing:52.91px;white-space:nowrap">.....................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1348.24px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1348.24px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1348.24px;left:7485.64px;white-space:nowrap">200,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1348.24px;left:9501.64px;white-space:nowrap">207,160</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1632px;left:9501.64px;white-space:nowrap">339,325</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1930.33px;left:432px;letter-spacing:-1.19px;white-space:nowrap">Textiles, </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1930.33px;left:1098.95px;white-space:nowrap">Apparel </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1930.33px;left:1739.11px;white-space:nowrap">&amp; </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1930.33px;left:1899.11px;white-space:nowrap">Luxury </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1930.33px;left:2477px;white-space:nowrap">Goods </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1930.33px;left:3028.09px;white-space:nowrap">0.5%</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:2130.02px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2126.81px;left:432px;white-space:nowrap">Hanesbrands, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2126.81px;left:1472.63px;white-space:nowrap">Inc.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2126.81px;left:1730.52px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2126.81px;left:1819.42px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2126.81px;left:2326.38px;white-space:nowrap">Note</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2126.81px;left:2664.34px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2126.81px;left:2753.25px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2126.81px;left:3215.83px;white-space:nowrap">4.625</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2126.81px;left:3616.22px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2126.81px;left:3758.48px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2126.81px;left:3847.39px;white-space:nowrap">5/15/24</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2126.81px;left:4448.76px;letter-spacing:59.33px;white-space:nowrap">........</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2126.81px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2126.81px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2126.81px;left:7352.2px;white-space:nowrap">1,000,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2126.81px;left:9368.2px;white-space:nowrap">1,049,375</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2425.14px;left:432px;white-space:nowrap">Thrifts </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2425.14px;left:974.19px;white-space:nowrap">&amp; </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2425.14px;left:1134.19px;white-space:nowrap">Mortgage </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2425.14px;left:1898.64px;white-space:nowrap">Finance </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2425.14px;left:2547.7px;white-space:nowrap">2.5%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2621.62px;left:432px;white-space:nowrap">MGIC </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2621.62px;left:894.19px;white-space:nowrap">Investment </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2621.62px;left:1721.22px;white-space:nowrap">Corp.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2621.62px;left:2112.47px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2621.62px;left:2201.38px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2621.62px;left:2708.33px;white-space:nowrap">Note</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2621.62px;left:3046.3px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2621.62px;left:3135.2px;white-space:nowrap">5.25</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2621.62px;left:3446.61px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2621.62px;left:3588.88px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2621.62px;left:3677.78px;white-space:nowrap">8/15/28</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2621.62px;left:4261.94px;letter-spacing:57.26px;white-space:nowrap">..........</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2636.18px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2636.18px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2636.18px;left:7485.64px;white-space:nowrap">500,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2636.18px;left:9501.64px;white-space:nowrap">526,512</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:2835.88px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2832.67px;left:432px;white-space:nowrap">NMI </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2832.67px;left:769.73px;white-space:nowrap">Holdings, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2832.67px;left:1481.22px;white-space:nowrap">Inc.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2832.67px;left:1739.11px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2832.67px;left:1828.02px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2832.67px;left:2334.97px;white-space:nowrap">Secured </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2832.67px;left:2975.36px;white-space:nowrap">Note</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2832.67px;left:3313.33px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2832.67px;left:3402.23px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2832.67px;left:3864.81px;white-space:nowrap">7.375</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2832.67px;left:4265.2px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2832.67px;left:4407.47px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2832.67px;left:4496.38px;white-space:nowrap">6/01/25</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2832.67px;left:5102.66px;letter-spacing:131.93px;white-space:nowrap">.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2832.67px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2832.67px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2832.67px;left:7352.2px;white-space:nowrap">1,200,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2832.67px;left:9368.2px;white-space:nowrap">1,357,734</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:3032.36px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3029.15px;left:432px;white-space:nowrap">PennyMac</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3029.15px;left:1232.39px;white-space:nowrap">Financial </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3029.15px;left:1917.16px;white-space:nowrap">Services, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3029.15px;left:2619.58px;white-space:nowrap">Inc.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3029.15px;left:2877.47px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3029.15px;left:2966.38px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3029.15px;left:3473.33px;white-space:nowrap">Note</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3029.15px;left:3811.3px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3029.15px;left:3900.2px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3029.15px;left:4362.78px;white-space:nowrap">5.375</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3029.15px;left:4763.17px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3029.15px;left:4905.44px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3221.15px;left:576px;white-space:nowrap">10/15/25</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3221.15px;left:1272.72px;letter-spacing:50.94px;white-space:nowrap">..........................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3221.15px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3221.15px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3221.15px;left:7352.2px;white-space:nowrap">1,000,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3221.15px;left:9368.2px;white-space:nowrap">1,046,250</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:3420.85px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3432.2px;left:432px;white-space:nowrap">Quicken </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3432.2px;left:1063.41px;white-space:nowrap">Loans </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3432.2px;left:1543.8px;white-space:nowrap">LLC </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3432.2px;left:1881.77px;white-space:nowrap">/ </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3432.2px;left:1970.67px;white-space:nowrap">Quicken </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3432.2px;left:2602.08px;white-space:nowrap">Loans </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3432.2px;left:3082.47px;letter-spacing:-0.8px;white-space:nowrap">Co-Issuer, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3432.2px;left:3856.06px;white-space:nowrap">Inc.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3432.2px;left:4113.95px;white-space:nowrap">,</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3628.68px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3628.68px;left:1082.95px;white-space:nowrap">Bond, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3628.68px;left:1545.53px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3628.68px;left:2008.11px;white-space:nowrap">3.875%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3628.68px;left:2639.67px;white-space:nowrap">3/01/31 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3628.68px;left:3234.39px;letter-spacing:52.91px;white-space:nowrap">.....................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3628.68px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3628.68px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3628.68px;left:7485.64px;white-space:nowrap">800,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3628.68px;left:9501.64px;white-space:nowrap">796,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3825.17px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3825.17px;left:1082.95px;white-space:nowrap">Note, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3825.17px;left:1509.83px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3825.17px;left:1972.41px;white-space:nowrap">3.625%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3825.17px;left:2603.97px;white-space:nowrap">3/01/29 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3825.17px;left:3234.39px;letter-spacing:52.91px;white-space:nowrap">.....................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3825.17px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3825.17px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3825.17px;left:7485.64px;white-space:nowrap">500,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3825.17px;left:9501.64px;white-space:nowrap">495,938</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4021.65px;left:432px;white-space:nowrap">Radian </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4021.65px;left:983.48px;white-space:nowrap">Group, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4021.65px;left:1517.08px;white-space:nowrap">Inc.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4021.65px;left:1774.97px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4021.65px;left:1863.88px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4021.65px;left:2370.83px;white-space:nowrap">Note</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4021.65px;left:2708.8px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4021.65px;left:2797.7px;white-space:nowrap">6.625</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4021.65px;left:3198.09px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4021.65px;left:3340.36px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4021.65px;left:3429.27px;white-space:nowrap">3/15/25</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4021.65px;left:3981.7px;letter-spacing:55.34px;white-space:nowrap">.............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4036.21px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4036.21px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4036.21px;left:7485.64px;white-space:nowrap">900,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4036.21px;left:9368.2px;white-space:nowrap">1,006,043</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4319.98px;left:9368.2px;white-space:nowrap">5,228,477</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4618.3px;left:432px;letter-spacing:-1.1px;white-space:nowrap">Trading </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4618.3px;left:1054.27px;white-space:nowrap">Companies </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4618.3px;left:1961.14px;white-space:nowrap">&amp; </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4618.3px;left:2121.14px;white-space:nowrap">Distributors </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4618.3px;left:3072.31px;white-space:nowrap">1.2%</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:4818px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4814.79px;left:432px;white-space:nowrap">Beacon </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4814.79px;left:1019.11px;text-rendering:optimizeLegibility;white-space:nowrap">Roofing </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4814.79px;left:1615.05px;letter-spacing:-1.48px;white-space:nowrap">Supply, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4814.79px;left:2181.3px;white-space:nowrap">Inc.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4814.79px;left:2439.19px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4814.79px;left:2528.09px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4814.79px;left:3035.05px;white-space:nowrap">Note</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4814.79px;left:3373.02px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4814.79px;left:3461.92px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4814.79px;left:3924.5px;white-space:nowrap">4.875</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4814.79px;left:4324.89px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4814.79px;left:4467.16px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4814.79px;left:4556.06px;letter-spacing:-1.48px;white-space:nowrap">11/01/25</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4814.79px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4814.79px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4814.79px;left:7352.2px;white-space:nowrap">1,000,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4814.79px;left:9368.2px;white-space:nowrap">1,010,685</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:5014.48px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5011.27px;left:432px;white-space:nowrap">H&amp;E </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5011.27px;left:805.44px;white-space:nowrap">Equipment </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5011.27px;left:1614.81px;white-space:nowrap">Services, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5011.27px;left:2317.23px;white-space:nowrap">Inc.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5011.27px;left:2575.13px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5011.27px;left:2664.03px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5011.27px;left:3170.98px;white-space:nowrap">Note</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5011.27px;left:3508.95px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5011.27px;left:3597.86px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5011.27px;left:4060.44px;white-space:nowrap">3.875</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5011.27px;left:4460.83px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5011.27px;left:4603.09px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5011.27px;left:4692px;white-space:nowrap">12/15/28</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5011.27px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5011.27px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5011.27px;left:7485.64px;white-space:nowrap">600,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5011.27px;left:9501.64px;white-space:nowrap">578,250</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:5210.97px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5222.32px;left:432px;white-space:nowrap">WESCO </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5222.32px;left:1080.91px;white-space:nowrap">Distribution, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5222.32px;left:1970.13px;white-space:nowrap">Inc.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5222.32px;left:2228.02px;white-space:nowrap">,</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5418.8px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5418.8px;left:1082.95px;white-space:nowrap">Note, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5418.8px;left:1509.83px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5418.8px;left:1972.41px;white-space:nowrap">7.125%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5418.8px;left:2603.97px;white-space:nowrap">6/15/25 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5418.8px;left:3234.39px;letter-spacing:52.91px;white-space:nowrap">.....................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5418.8px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5418.8px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5418.8px;left:7485.64px;white-space:nowrap">500,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5418.8px;left:9501.64px;white-space:nowrap">541,725</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5615.28px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5615.28px;left:1082.95px;white-space:nowrap">Note, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5615.28px;left:1509.83px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5615.28px;left:1972.41px;white-space:nowrap">7.25%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5615.28px;left:2514.98px;white-space:nowrap">6/15/28 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5615.28px;left:3140.98px;letter-spacing:52.73px;white-space:nowrap">......................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5615.28px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5615.28px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5615.28px;left:7485.64px;white-space:nowrap">400,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5615.28px;left:9501.64px;white-space:nowrap">445,062</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5899.05px;left:9368.2px;white-space:nowrap">2,575,722</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6197.37px;left:432px;letter-spacing:-0.16px;white-space:nowrap">Wireless </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6197.37px;left:1133.17px;letter-spacing:-0.66px;white-space:nowrap">Telecommunication </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6197.37px;left:2668.25px;white-space:nowrap">Services </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6197.37px;left:3371.06px;white-space:nowrap">2.0%</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:6397.07px;left:380.12px;white-space:nowrap">d</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6408.42px;left:432px;white-space:nowrap">Digicel</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6408.42px;left:956.61px;white-space:nowrap">Group </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6408.42px;left:1445.75px;white-space:nowrap">0.5 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6408.42px;left:1712.63px;white-space:nowrap">Ltd.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6408.42px;left:1979.5px;white-space:nowrap">,</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:6608.11px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6604.9px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6604.9px;left:1082.95px;white-space:nowrap">Note, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6604.9px;left:1509.83px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6604.9px;left:1972.41px;white-space:nowrap">PIK, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6604.9px;left:2319.2px;white-space:nowrap">8%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6604.9px;left:2639.36px;white-space:nowrap">4/01/25 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6604.9px;left:3234.39px;letter-spacing:52.91px;white-space:nowrap">.....................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6604.9px;left:5974.78px;white-space:nowrap">Bermuda</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6604.9px;left:7485.64px;white-space:nowrap">142,885</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6604.9px;left:9513.52px;letter-spacing:-1.7px;white-space:nowrap">112,103</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6801.39px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6801.39px;left:1082.95px;white-space:nowrap">Secured </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6801.39px;left:1723.34px;white-space:nowrap">Note, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6801.39px;left:2150.22px;white-space:nowrap">PIK, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6801.39px;left:2497.02px;white-space:nowrap">10%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6801.39px;left:2906.16px;white-space:nowrap">4/01/24 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6801.39px;left:3514.63px;letter-spacing:53.57px;white-space:nowrap">..................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6801.39px;left:5974.78px;white-space:nowrap">Bermuda</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6801.39px;left:7485.64px;white-space:nowrap">457,588</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6801.39px;left:9501.64px;white-space:nowrap">432,103</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6997.87px;left:432px;white-space:nowrap">Hughes </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6997.87px;left:1027.94px;white-space:nowrap">Satellite </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6997.87px;left:1641.61px;white-space:nowrap">Systems </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6997.87px;left:2299.5px;white-space:nowrap">Corp.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6997.87px;left:2690.75px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6997.87px;left:2779.66px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6997.87px;left:3286.61px;white-space:nowrap">Note</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6997.87px;left:3624.58px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6997.87px;left:3713.48px;white-space:nowrap">6.625</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6997.87px;left:4113.88px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6997.87px;left:4256.14px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6997.87px;left:4345.05px;white-space:nowrap">8/01/26</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6997.87px;left:4915.83px;letter-spacing:76.62px;white-space:nowrap">...</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7012.43px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7012.43px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7012.43px;left:7352.2px;white-space:nowrap">1,300,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7012.43px;left:9368.2px;white-space:nowrap">1,454,570</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7208.92px;left:432px;white-space:nowrap">Sprint </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7208.92px;left:894.42px;white-space:nowrap">Corp.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7208.92px;left:1285.67px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7208.92px;left:1374.58px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7208.92px;left:1881.53px;white-space:nowrap">Note</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7208.92px;left:2219.5px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7208.92px;left:2308.41px;white-space:nowrap">7.125</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7208.92px;left:2708.8px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7208.92px;left:2851.06px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7208.92px;left:2939.97px;white-space:nowrap">6/15/24</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7208.92px;left:3514.63px;letter-spacing:53.57px;white-space:nowrap">..................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7223.48px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7223.48px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7223.48px;left:7485.64px;white-space:nowrap">500,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7223.48px;left:9501.64px;white-space:nowrap">576,355</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7434.52px;left:432px;letter-spacing:-0.98px;white-space:nowrap">T-Mobile </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7434.52px;left:1089.97px;white-space:nowrap">USA, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7434.52px;left:1507.86px;white-space:nowrap">Inc.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7434.52px;left:1765.75px;white-space:nowrap">,</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7631.01px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7631.01px;left:1082.95px;white-space:nowrap">Bond, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7631.01px;left:1545.53px;white-space:nowrap">2.875%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7631.01px;left:2177.09px;white-space:nowrap">2/15/31 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7631.01px;left:2767.33px;letter-spacing:52.15px;white-space:nowrap">..........................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7631.01px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7631.01px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7631.01px;left:7485.64px;white-space:nowrap">300,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7631.01px;left:9501.64px;white-space:nowrap">294,750</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7827.49px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7827.49px;left:1082.95px;white-space:nowrap">Note, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7827.49px;left:1509.83px;white-space:nowrap">4.75%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7827.49px;left:2052.41px;white-space:nowrap">2/01/28 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7827.49px;left:2673.91px;letter-spacing:52.03px;white-space:nowrap">...........................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7827.49px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7827.49px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7827.49px;left:7485.64px;white-space:nowrap">600,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7827.49px;left:9501.64px;white-space:nowrap">635,295</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8023.98px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8023.98px;left:1082.95px;white-space:nowrap">Note, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8023.98px;left:1509.83px;white-space:nowrap">2.625%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8023.98px;left:2141.39px;white-space:nowrap">2/15/29 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8023.98px;left:2767.33px;letter-spacing:52.15px;white-space:nowrap">..........................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8023.98px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8023.98px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8023.98px;left:7485.64px;white-space:nowrap">300,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8023.98px;left:9501.64px;white-space:nowrap">292,875</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:8223.67px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8220.46px;left:432px;white-space:nowrap">Vmed</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8220.46px;left:894.42px;white-space:nowrap">O2 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8220.46px;left:1152.31px;white-space:nowrap">UK </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8220.46px;left:1419.03px;white-space:nowrap">Financing </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8220.46px;left:2157.23px;white-space:nowrap">I </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8220.46px;left:2246.14px;white-space:nowrap">plc</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8220.46px;left:2450.67px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8220.46px;left:2539.58px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8220.46px;left:3046.53px;white-space:nowrap">Secured </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8220.46px;left:3686.92px;white-space:nowrap">Bond</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8220.46px;left:4060.59px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8220.46px;left:4149.5px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8220.46px;left:4612.08px;white-space:nowrap">4.25</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8220.46px;left:4923.48px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8220.46px;left:5065.75px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8412.46px;left:576px;white-space:nowrap">1/31/31</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8412.46px;left:1179.3px;letter-spacing:50.89px;white-space:nowrap">...........................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8412.46px;left:5485.56px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8412.46px;left:5992.52px;white-space:nowrap">Kingdom</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8412.46px;left:7485.64px;white-space:nowrap">500,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8412.46px;left:9501.64px;white-space:nowrap">490,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8696.22px;left:9368.2px;white-space:nowrap">4,288,051</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:8975.24px;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:8975.24px;left:950.46px;white-space:nowrap">Corporate </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:8975.24px;left:1961.69px;white-space:nowrap">Bonds</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:8975.24px;left:2639.42px;white-space:nowrap">(Cost </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:8975.24px;left:3206.02px;white-space:nowrap">$178,424,725)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:200px;position:absolute;top:8975.24px;left:4510.09px;letter-spacing:50.84px;white-space:nowrap">.....................................</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:9009.11px;left:9190.23px;white-space:nowrap">181,230,420</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:9416.18px;left:411.28px;white-space:nowrap">i</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:9408.22px;left:432px;white-space:nowrap">Marketplace </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:9408.22px;left:1643.72px;white-space:nowrap">Loans </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:9408.22px;left:2288.25px;white-space:nowrap">1.5%</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:9653.14px;left:432px;text-rendering:optimizeLegibility;white-space:nowrap">Diversified </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:9653.14px;left:1294.58px;white-space:nowrap">Financial </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:9653.14px;left:2032.55px;white-space:nowrap">Services </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:9653.14px;left:2735.36px;white-space:nowrap">1.5%</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:9852.83px;left:385.36px;white-space:nowrap">c</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9849.62px;left:432px;white-space:nowrap">Lending </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9849.62px;left:1045.91px;white-space:nowrap">Club </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9849.62px;left:1419.42px;white-space:nowrap">- </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9849.62px;left:1517.16px;white-space:nowrap">LCX </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9849.62px;left:1872.86px;white-space:nowrap">PM, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9849.62px;left:2201.77px;white-space:nowrap">8.46% </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9849.62px;left:2699.89px;white-space:nowrap">- </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9849.62px;left:2797.63px;white-space:nowrap">23.99%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9849.62px;left:3429.19px;white-space:nowrap">10/30/23 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9849.62px;left:4096.45px;white-space:nowrap">- </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9849.62px;left:4194.19px;white-space:nowrap">1/14/26</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9849.62px;left:4729px;letter-spacing:65.55px;white-space:nowrap">.....</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9849.62px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9849.62px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9849.62px;left:7485.64px;white-space:nowrap">196,329</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9849.62px;left:9501.64px;white-space:nowrap">188,392</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:10049.32px;left:385.36px;white-space:nowrap">c</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10046.11px;left:432px;white-space:nowrap">Lending </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10046.11px;left:1045.91px;white-space:nowrap">Club </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10046.11px;left:1419.42px;white-space:nowrap">- </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10046.11px;left:1517.16px;white-space:nowrap">LCX, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10046.11px;left:1917.31px;white-space:nowrap">13.08% </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10046.11px;left:2504.42px;white-space:nowrap">- </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10046.11px;left:2602.16px;white-space:nowrap">25.65%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10046.11px;left:3233.72px;white-space:nowrap">8/26/22 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10046.11px;left:3812px;white-space:nowrap">- </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10046.11px;left:3909.73px;white-space:nowrap">2/07/25</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10046.11px;left:4448.76px;letter-spacing:59.33px;white-space:nowrap">........</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10046.11px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10046.11px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10046.11px;left:7485.64px;white-space:nowrap">218,562</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10046.11px;left:9501.64px;white-space:nowrap">205,322</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:10245.8px;left:385.36px;white-space:nowrap">c</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10242.59px;left:432px;white-space:nowrap">Lending </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10242.59px;left:1045.91px;white-space:nowrap">Club, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10242.59px;left:1463.88px;white-space:nowrap">5% </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10242.59px;left:1739.58px;white-space:nowrap">- </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10242.59px;left:1837.31px;white-space:nowrap">25.65%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10242.59px;left:2468.88px;white-space:nowrap">6/14/22 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10242.59px;left:3047.16px;white-space:nowrap">- </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10242.59px;left:3144.89px;white-space:nowrap">3/16/25</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10242.59px;left:3701.46px;letter-spacing:54.15px;white-space:nowrap">................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10242.59px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10242.59px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10242.59px;left:7352.2px;white-space:nowrap">2,965,972</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10242.59px;left:9368.2px;white-space:nowrap">2,718,124</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:10442.28px;left:385.36px;white-space:nowrap">c</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10439.07px;left:432px;white-space:nowrap">Upgrade, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10439.07px;left:1134.66px;white-space:nowrap">16.89% </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10439.07px;left:1721.77px;white-space:nowrap">- </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10439.07px;left:1819.5px;white-space:nowrap">30.17%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10439.07px;left:2451.06px;letter-spacing:-1.32px;white-space:nowrap">11/14/22 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10439.07px;left:3106.45px;white-space:nowrap">- </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10439.07px;left:3204.19px;white-space:nowrap">1/07/25</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10439.07px;left:3794.87px;letter-spacing:54.49px;white-space:nowrap">...............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10439.07px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10439.07px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10439.07px;left:7574.63px;white-space:nowrap">80,220</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10439.07px;left:9590.63px;white-space:nowrap">75,667</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10722.84px;left:9368.2px;white-space:nowrap">3,187,505</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:10px;position:absolute;top:10937.12px;left:0px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:10px;position:absolute;top:10937.12px;left:432px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:10px;position:absolute;top:10937.12px;left:6618.44px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:10px;position:absolute;top:10937.12px;left:8058.44px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:10px;position:absolute;top:10937.12px;left:8490.44px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:10px;position:absolute;top:10937.12px;left:10074.44px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:11001.86px;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:11001.86px;left:950.46px;white-space:nowrap">Marketplace </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:11001.86px;left:2162.18px;white-space:nowrap">Loans</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:11001.86px;left:2806.71px;white-space:nowrap">(Cost </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:11001.86px;left:3373.31px;white-space:nowrap">$3,583,127)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:200px;position:absolute;top:11001.86px;left:4510.09px;letter-spacing:50.84px;white-space:nowrap">.....................................</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:11035.72px;left:9368.2px;white-space:nowrap">3,187,505</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:11396.2px;left:432px;white-space:nowrap">Asset-Backed </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:11396.2px;left:1810.42px;white-space:nowrap">Securities </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:11396.2px;left:2822.04px;white-space:nowrap">3.6%</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:11641.11px;left:432px;text-rendering:optimizeLegibility;white-space:nowrap">Diversified </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:11641.11px;left:1294.58px;white-space:nowrap">Financial </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:11641.11px;left:2032.55px;white-space:nowrap">Services </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:11641.11px;left:2735.36px;white-space:nowrap">3.6%</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:11840.81px;left:359.44px;white-space:nowrap">f,j</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11852.16px;left:432px;white-space:nowrap">Consumer </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11852.16px;left:1214.5px;white-space:nowrap">Loan </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11852.16px;left:1614.89px;white-space:nowrap">Underlying </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11852.16px;left:2424.19px;white-space:nowrap">Bond </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11852.16px;left:2842.31px;text-rendering:optimizeLegibility;white-space:nowrap">Certificate </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11852.16px;left:3607px;white-space:nowrap">Issuer </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11852.16px;left:4084.27px;letter-spacing:-0.99px;white-space:nowrap">Trust </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11852.16px;left:4487.23px;white-space:nowrap">I</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11852.16px;left:4531.69px;white-space:nowrap">,</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:12048.64px;left:576px;white-space:nowrap">2019-26, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:12048.64px;left:1252.09px;letter-spacing:-4.43px;white-space:nowrap">PT, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:12048.64px;left:1527.72px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:12048.64px;left:1990.3px;white-space:nowrap">FRN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:12048.64px;left:2408.03px;white-space:nowrap">17.205%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:12048.64px;left:3128.58px;white-space:nowrap">8/15/44</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:12048.64px;left:3701.46px;letter-spacing:54.15px;white-space:nowrap">................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:12048.64px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:12048.64px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:12048.64px;left:7509.39px;letter-spacing:-3.39px;white-space:nowrap">555,111</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:12048.64px;left:9501.64px;white-space:nowrap">543,634</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:7986px">

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			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:3572.9px;white-space:nowrap">The </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:3835.48px;white-space:nowrap">accompanying </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:4718.06px;white-space:nowrap">notes </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:5075.56px;white-space:nowrap">are </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:5301.65px;white-space:nowrap">an </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:5484.08px;white-space:nowrap">integral </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:5950.87px;white-space:nowrap">part </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:6213.45px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:6359.39px;white-space:nowrap">these </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:6716.89px;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:7234.78px;white-space:nowrap">statements.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:8069.08px;white-space:nowrap">Semiannual </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">17</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/AAAf5klEQVR4XuzbsY0cRwBE0QtFoWwICkGhXBhtbigMSRmslgGQvyiQy5vjM95Y32ijgME0MG+Px+MNAAAA4GfIAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsHo757xf0H1oAIDP4T40/JnuQwM/6j40H819aOBl3p6PBwAAAMDP8PWiIW8jPqD70AAAn8N9aPgz3YcGftR9aD6a+9DAy+S/FQAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAABc0znn/ekBr5TDBAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAK7pnHN7eodXymECAABwTcdFA79BDhMAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAF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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:80px;position:absolute;top:280.75px;left:0px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:80px;position:absolute;top:280.75px;left:432px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:213.02px;left:6010.72px;white-space:nowrap">Country</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:80px;position:absolute;top:280.75px;left:8451.51px;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">Asset-Backed </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:499.31px;left:1810.42px;white-space:nowrap">Securities </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:533.18px;left:2822.04px;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;text-rendering:optimizeLegibility;white-space:nowrap">Diversified </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:744.23px;left:1294.58px;white-space:nowrap">Financial </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:744.23px;left:2032.55px;white-space:nowrap">Services </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:744.23px;left:2735.36px;white-space:nowrap">(continued)</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:943.92px;left:359.44px;white-space:nowrap">f,j</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:940.71px;left:432px;white-space:nowrap">Consumer </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:940.71px;left:1214.5px;white-space:nowrap">Loan </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:940.71px;left:1614.89px;white-space:nowrap">Underlying </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:940.71px;left:2424.19px;white-space:nowrap">Bond </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:940.71px;left:2842.31px;text-rendering:optimizeLegibility;white-space:nowrap">Certificate </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:940.71px;left:3607px;white-space:nowrap">Issuer </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:940.71px;left:4084.27px;letter-spacing:-0.99px;white-space:nowrap">Trust </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:940.71px;left:4487.23px;white-space:nowrap">I, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1132.71px;left:432px;white-space:nowrap">(continued)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1329.2px;left:576px;white-space:nowrap">2019-31, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1329.2px;left:1252.09px;letter-spacing:-4.43px;white-space:nowrap">PT, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1329.2px;left:1527.72px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1329.2px;left:1990.3px;white-space:nowrap">FRN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1329.2px;left:2408.03px;white-space:nowrap">16.353%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1329.2px;left:3128.58px;white-space:nowrap">9/15/44</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1329.2px;left:3701.46px;letter-spacing:54.15px;white-space:nowrap">................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1329.2px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1329.2px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1329.2px;left:7485.64px;white-space:nowrap">495,954</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1329.2px;left:9412.66px;white-space:nowrap">$</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1329.2px;left:9501.64px;white-space:nowrap">480,582</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1525.68px;left:576px;white-space:nowrap">2019-37, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1525.68px;left:1252.09px;letter-spacing:-4.43px;white-space:nowrap">PT, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1525.68px;left:1527.72px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1525.68px;left:1990.3px;white-space:nowrap">FRN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1525.68px;left:2408.03px;white-space:nowrap">17.579%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1525.68px;left:3128.58px;white-space:nowrap">10/17/44</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1525.68px;left:3794.87px;letter-spacing:54.49px;white-space:nowrap">...............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1525.68px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1525.68px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1525.68px;left:7485.64px;white-space:nowrap">525,467</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1525.68px;left:9501.64px;white-space:nowrap">508,558</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1722.16px;left:576px;white-space:nowrap">2019-42, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1722.16px;left:1252.09px;letter-spacing:-4.43px;white-space:nowrap">PT, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1722.16px;left:1527.72px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1722.16px;left:1990.3px;white-space:nowrap">FRN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1722.16px;left:2408.03px;white-space:nowrap">16.152%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1722.16px;left:3128.58px;letter-spacing:-1.48px;white-space:nowrap">11/15/44</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1722.16px;left:3794.87px;letter-spacing:54.49px;white-space:nowrap">...............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1722.16px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1722.16px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1722.16px;left:7485.64px;white-space:nowrap">523,833</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1722.16px;left:9513.52px;letter-spacing:-1.7px;white-space:nowrap">511,278</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1918.65px;left:576px;white-space:nowrap">2019-51, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1918.65px;left:1252.09px;letter-spacing:-4.43px;white-space:nowrap">PT, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1918.65px;left:1527.72px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1918.65px;left:1990.3px;white-space:nowrap">FRN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1918.65px;left:2408.03px;white-space:nowrap">15.399%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1918.65px;left:3128.58px;white-space:nowrap">1/15/45</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1918.65px;left:3701.46px;letter-spacing:54.15px;white-space:nowrap">................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1918.65px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1918.65px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1918.65px;left:7485.64px;white-space:nowrap">653,476</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1918.65px;left:9501.64px;white-space:nowrap">637,753</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2115.13px;left:576px;white-space:nowrap">2019-52, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2115.13px;left:1252.09px;letter-spacing:-4.43px;white-space:nowrap">PT, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2115.13px;left:1527.72px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2115.13px;left:1990.3px;white-space:nowrap">FRN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2115.13px;left:2408.03px;white-space:nowrap">16.04%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2115.13px;left:3039.59px;white-space:nowrap">1/15/45</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2115.13px;left:3608.05px;letter-spacing:53.84px;white-space:nowrap">.................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2115.13px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2115.13px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2115.13px;left:7485.64px;white-space:nowrap">562,096</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2115.13px;left:9501.64px;white-space:nowrap">552,169</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2311.62px;left:576px;white-space:nowrap">2019-S3, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2311.62px;left:1269.83px;letter-spacing:-4.43px;white-space:nowrap">PT, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2311.62px;left:1545.45px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2311.62px;left:2008.03px;white-space:nowrap">FRN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2311.62px;left:2425.77px;white-space:nowrap">12.304%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2311.62px;left:3146.31px;white-space:nowrap">6/15/44</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2311.62px;left:3701.46px;letter-spacing:54.15px;white-space:nowrap">................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2311.62px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2311.62px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2311.62px;left:7485.64px;white-space:nowrap">145,960</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2311.62px;left:9501.64px;white-space:nowrap">142,283</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2508.1px;left:576px;white-space:nowrap">2019-S4, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2508.1px;left:1269.83px;letter-spacing:-4.43px;white-space:nowrap">PT, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2508.1px;left:1545.45px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2508.1px;left:2008.03px;white-space:nowrap">FRN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2508.1px;left:2425.77px;white-space:nowrap">9.665%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2508.1px;left:3057.33px;white-space:nowrap">8/15/44</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2508.1px;left:3608.05px;letter-spacing:53.84px;white-space:nowrap">.................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2508.1px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2508.1px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2508.1px;left:7485.64px;white-space:nowrap">471,462</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2508.1px;left:9501.64px;white-space:nowrap">459,777</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2704.59px;left:576px;white-space:nowrap">2019-S5, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2704.59px;left:1269.83px;letter-spacing:-4.43px;white-space:nowrap">PT, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2704.59px;left:1545.45px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2704.59px;left:2008.03px;white-space:nowrap">FRN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2704.59px;left:2425.77px;white-space:nowrap">12.581%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2704.59px;left:3146.31px;white-space:nowrap">9/15/44</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2704.59px;left:3701.46px;letter-spacing:54.15px;white-space:nowrap">................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2704.59px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2704.59px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2704.59px;left:7485.64px;white-space:nowrap">475,745</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2704.59px;left:9501.64px;white-space:nowrap">463,799</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2901.07px;left:576px;white-space:nowrap">2019-S6, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2901.07px;left:1269.83px;letter-spacing:-4.43px;white-space:nowrap">PT, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2901.07px;left:1545.45px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2901.07px;left:2008.03px;white-space:nowrap">FRN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2901.07px;left:2425.77px;white-space:nowrap">10.682%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2901.07px;left:3146.31px;white-space:nowrap">10/17/44</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2901.07px;left:3794.87px;letter-spacing:54.49px;white-space:nowrap">...............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2901.07px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2901.07px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2901.07px;left:7485.64px;white-space:nowrap">465,044</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2901.07px;left:9501.64px;white-space:nowrap">446,156</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3097.55px;left:576px;white-space:nowrap">2019-S7, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3097.55px;left:1269.83px;letter-spacing:-4.43px;white-space:nowrap">PT, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3097.55px;left:1545.45px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3097.55px;left:2008.03px;white-space:nowrap">FRN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3097.55px;left:2425.77px;letter-spacing:-1.32px;white-space:nowrap">11.136%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3097.55px;left:3134.44px;white-space:nowrap">12/15/44</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3097.55px;left:3794.87px;letter-spacing:54.49px;white-space:nowrap">...............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3097.55px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3097.55px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3097.55px;left:7497.52px;letter-spacing:-1.7px;white-space:nowrap">411,777</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3097.55px;left:9501.64px;white-space:nowrap">396,821</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3294.04px;left:576px;white-space:nowrap">2019-S8, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3294.04px;left:1269.83px;letter-spacing:-4.43px;white-space:nowrap">PT, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3294.04px;left:1545.45px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3294.04px;left:2008.03px;white-space:nowrap">FRN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3294.04px;left:2425.77px;white-space:nowrap">9.871%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3294.04px;left:3057.33px;white-space:nowrap">1/15/45</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3294.04px;left:3608.05px;letter-spacing:53.84px;white-space:nowrap">.................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3294.04px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3294.04px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3294.04px;left:7485.64px;white-space:nowrap">471,994</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3294.04px;left:9501.64px;white-space:nowrap">452,350</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3490.52px;left:576px;white-space:nowrap">2020-2, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3490.52px;left:1163.11px;letter-spacing:-4.43px;white-space:nowrap">PT, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3490.52px;left:1438.73px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3490.52px;left:1901.31px;white-space:nowrap">FRN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3490.52px;left:2319.05px;white-space:nowrap">15.724%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3490.52px;left:3039.59px;white-space:nowrap">3/15/45</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3490.52px;left:3608.05px;letter-spacing:53.84px;white-space:nowrap">.................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3490.52px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3490.52px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3490.52px;left:7485.64px;white-space:nowrap">526,603</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3490.52px;left:9501.64px;white-space:nowrap">515,239</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3687.01px;left:576px;white-space:nowrap">2020-7, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3687.01px;left:1163.11px;letter-spacing:-4.43px;white-space:nowrap">PT, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3687.01px;left:1438.73px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3687.01px;left:1901.31px;white-space:nowrap">FRN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3687.01px;left:2319.05px;white-space:nowrap">16.08%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3687.01px;left:2950.61px;white-space:nowrap">4/17/45</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3687.01px;left:3514.63px;letter-spacing:53.57px;white-space:nowrap">..................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3687.01px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3687.01px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3687.01px;left:7509.39px;letter-spacing:-3.39px;white-space:nowrap">314,111</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3687.01px;left:9501.64px;white-space:nowrap">304,149</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:3886.7px;left:359.44px;white-space:nowrap">f,j</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3898.05px;left:432px;white-space:nowrap">Prosper </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3898.05px;left:1036.69px;white-space:nowrap">Pass-Thru </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3898.05px;left:1816.22px;letter-spacing:-0.99px;white-space:nowrap">Trust </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3898.05px;left:2219.19px;white-space:nowrap">III</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3898.05px;left:2352.55px;white-space:nowrap">,</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4094.54px;left:576px;white-space:nowrap">2020-PT1, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4094.54px;left:1358.73px;white-space:nowrap">A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4094.54px;left:1554.36px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4094.54px;left:2016.94px;white-space:nowrap">FRN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4094.54px;left:2434.67px;white-space:nowrap">8.796%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4094.54px;left:3066.23px;white-space:nowrap">3/15/26</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4094.54px;left:3608.05px;letter-spacing:53.84px;white-space:nowrap">.................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4094.54px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4094.54px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4094.54px;left:7485.64px;white-space:nowrap">321,653</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4094.54px;left:9501.64px;white-space:nowrap">316,618</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4291.02px;left:576px;white-space:nowrap">2020-PT2, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4291.02px;left:1358.73px;white-space:nowrap">A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4291.02px;left:1554.36px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4291.02px;left:2016.94px;white-space:nowrap">FRN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4291.02px;left:2434.67px;white-space:nowrap">9.444%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4291.02px;left:3066.23px;white-space:nowrap">4/15/26</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4291.02px;left:3608.05px;letter-spacing:53.84px;white-space:nowrap">.................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4291.02px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4291.02px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4291.02px;left:7485.64px;white-space:nowrap">378,640</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4291.02px;left:9501.64px;white-space:nowrap">372,005</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4487.51px;left:576px;white-space:nowrap">2020-PT3, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4487.51px;left:1358.73px;white-space:nowrap">A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4487.51px;left:1554.36px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4487.51px;left:2016.94px;white-space:nowrap">FRN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4487.51px;left:2434.67px;white-space:nowrap">7.183%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4487.51px;left:3066.23px;white-space:nowrap">5/15/26</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4487.51px;left:3608.05px;letter-spacing:53.84px;white-space:nowrap">.................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4487.51px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4487.51px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4487.51px;left:7574.63px;white-space:nowrap">70,370</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4487.51px;left:9590.63px;white-space:nowrap">70,897</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:4687.2px;left:359.44px;white-space:nowrap">f,j</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4683.99px;left:432px;white-space:nowrap">Upgrade </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4683.99px;left:1090.2px;white-space:nowrap">Master </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4683.99px;left:1623.64px;white-space:nowrap">Pass-Thru </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4683.99px;left:2403.17px;letter-spacing:-1.19px;white-space:nowrap">Trust</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4683.99px;left:2761.69px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4683.99px;left:2850.59px;white-space:nowrap">2019-PT2</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4683.99px;left:3553.25px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4683.99px;left:3633.33px;white-space:nowrap">A</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4683.99px;left:3740.05px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4683.99px;left:3828.95px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4683.99px;left:4291.53px;white-space:nowrap">FRN</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4683.99px;left:4620.36px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4875.99px;left:576px;white-space:nowrap">12.961</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4875.99px;left:1065.38px;white-space:nowrap">%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4875.99px;left:1207.64px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4875.99px;left:1296.55px;white-space:nowrap">2/15/26</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4875.99px;left:1833.2px;letter-spacing:51.26px;white-space:nowrap">....................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4875.99px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4875.99px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4875.99px;left:7485.64px;white-space:nowrap">362,637</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4875.99px;left:9501.64px;white-space:nowrap">359,884</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5159.75px;left:9368.2px;white-space:nowrap">7,533,952</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:10px;position:absolute;top:5374.04px;left:0px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:10px;position:absolute;top:5374.04px;left:432px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:10px;position:absolute;top:5374.04px;left:6618.44px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:10px;position:absolute;top:5374.04px;left:8058.44px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:10px;position:absolute;top:5374.04px;left:8490.44px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:10px;position:absolute;top:5374.04px;left:10074.44px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:5438.77px;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:5438.77px;left:943.04px;white-space:nowrap">Asset-Backed </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:5438.77px;left:2321.45px;white-space:nowrap">Securities</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:5438.77px;left:3333.07px;white-space:nowrap">(Cost </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:5438.77px;left:3899.68px;white-space:nowrap">$7,485,453)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:200px;position:absolute;top:5438.77px;left:5032.92px;letter-spacing:51.12px;white-space:nowrap">................................</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5472.64px;left:9368.2px;white-space:nowrap">7,533,952</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5756.41px;left:7530.33px;white-space:nowrap">Shares</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:6008.19px;left:432px;white-space:nowrap">Escrows </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:6008.19px;left:1310.22px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:6008.19px;left:1721.36px;white-space:nowrap">Litigation </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:6008.19px;left:2676.73px;letter-spacing:-1px;white-space:nowrap">Trusts </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:6008.19px;left:3332.49px;white-space:nowrap">0.0%</div><div style="font-family:Arial, sans-serif;font-size:116.6px;font-weight:bold;position:absolute;top:6012.2px;left:3788.35px;white-space:nowrap">&#8224;</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:6241.75px;left:307.57px;white-space:nowrap">a,c</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6238.54px;left:432px;letter-spacing:-0.48px;white-space:nowrap">Vistra</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6238.54px;left:882.55px;white-space:nowrap">Energy </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6238.54px;left:1433.95px;white-space:nowrap">Corp., </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6238.54px;left:1914.11px;white-space:nowrap">Escrow </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6238.54px;left:2474.27px;white-space:nowrap">Account</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6238.54px;left:3140.98px;letter-spacing:52.73px;white-space:nowrap">......................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6238.54px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6238.54px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6238.54px;left:7485.64px;white-space:nowrap">700,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6238.54px;left:9679.61px;white-space:nowrap">1,050</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:6517.56px;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:6517.56px;left:950.46px;white-space:nowrap">Escrows </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:6517.56px;left:1828.68px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:6517.56px;left:2239.81px;white-space:nowrap">Litigation </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:6517.56px;left:3195.18px;letter-spacing:-1.58px;white-space:nowrap">Trusts </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:6517.56px;left:3850.95px;white-space:nowrap">(Cost </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:6517.56px;left:4417.55px;white-space:nowrap">$18,346)</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:6517.56px;left:5242.05px;letter-spacing:51.27px;white-space:nowrap">..............................</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6551.43px;left:9679.61px;white-space:nowrap">1,050</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:6993.36px;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:6993.36px;left:950.46px;white-space:nowrap">Long </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:6993.36px;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:6993.36px;left:2024.48px;white-space:nowrap">Investments </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:6993.36px;left:3247.14px;white-space:nowrap">(Cost </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:6993.36px;left:3813.74px;white-space:nowrap">$228,897,867)</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:6993.36px;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:7027.23px;left:9190.23px;white-space:nowrap">273,534,068</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:10px;font-weight:bold;position:absolute;top:7241.51px;left:10074.44px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:7598.75px;left:432px;white-space:nowrap">Short </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:7598.75px;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:7598.75px;left:1539.52px;white-space:nowrap">Investments </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:7598.75px;left:2762.18px;white-space:nowrap">1.2%</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:80px;position:absolute;top:7928.83px;left:0px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:80px;position:absolute;top:7928.83px;left:432px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:7861.1px;left:6010.72px;white-space:nowrap">Country</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:7861.1px;left:7530.33px;white-space:nowrap">Shares</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:80px;position:absolute;top:7928.83px;left:8451.51px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:7861.1px;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:8074.19px;left:432px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:8147.4px;left:432px;white-space:nowrap">Money </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:8147.4px;left:1120.96px;white-space:nowrap">Market </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:8147.4px;left:1821.26px;white-space:nowrap">Funds </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:8147.4px;left:2476.73px;white-space:nowrap">1.2%</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:8380.96px;left:338.72px;white-space:nowrap">k,l</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8377.75px;left:432px;white-space:nowrap">Institutional </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8377.75px;left:1285.83px;white-space:nowrap">Fiduciary </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8377.75px;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:8377.75px;left:2379.42px;white-space:nowrap">- </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8377.75px;left:2477.16px;white-space:nowrap">Money </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8377.75px;left:3001.84px;white-space:nowrap">Market </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8377.75px;left:3535.28px;white-space:nowrap">Portfolio, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8377.75px;left:4211.14px;white-space:nowrap">0%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8377.75px;left:4448.76px;letter-spacing:59.33px;white-space:nowrap">........</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8377.75px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8377.75px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8377.75px;left:7292.08px;letter-spacing:-1.32px;white-space:nowrap">2,582,411</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8377.75px;left:9380.08px;letter-spacing:-1.32px;white-space:nowrap">2,582,411</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:8656.77px;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:8656.77px;left:950.46px;white-space:nowrap">Money </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:8656.77px;left:1639.42px;white-space:nowrap">Market </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:8656.77px;left:2339.71px;white-space:nowrap">Funds </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:8656.77px;left:2995.18px;white-space:nowrap">(Cost </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:8656.77px;left:3561.79px;letter-spacing:-1px;white-space:nowrap">$2,582,411)</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:8656.77px;left:4719.22px;letter-spacing:50.94px;white-space:nowrap">...................................</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8690.63px;left:9377.03px;letter-spacing:-0.98px;white-space:nowrap">2,582,411</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:8977.61px;left:354.3px;white-space:nowrap">m</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:8969.65px;left:432px;white-space:nowrap">Investments </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:8969.65px;left:1654.66px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:8969.65px;left:2154.66px;white-space:nowrap">Cash </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:8969.65px;left:2699.29px;white-space:nowrap">Collateral </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:8969.65px;left:3666.28px;white-space:nowrap">Received </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:8969.65px;left:4600.16px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:9209.65px;left:432px;white-space:nowrap">Loaned </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:9209.65px;left:1198.7px;white-space:nowrap">Securities </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:9209.65px;left:2210.32px;white-space:nowrap">0.0%</div><div style="font-family:Arial, sans-serif;font-size:116.6px;font-weight:bold;position:absolute;top:9213.67px;left:2666.18px;white-space:nowrap">&#8224;</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;position:absolute;top:9516.66px;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:9516.66px;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:9516.66px;left:8052.88px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;position:absolute;top:9516.66px;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:9516.66px;left:10068.88px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:9609.17px;left:432px;white-space:nowrap">Money </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:9609.17px;left:983.17px;white-space:nowrap">Market </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:9609.17px;left:1543.41px;white-space:nowrap">Funds </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:9609.17px;left:2067.78px;white-space:nowrap">0.0%</div><div style="font-family:Arial, sans-serif;font-size:93.3px;font-weight:bold;position:absolute;top:9612.38px;left:2432.47px;white-space:nowrap">&#8224;</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:9808.87px;left:338.72px;white-space:nowrap">k,l</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9805.66px;left:432px;white-space:nowrap">Institutional </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9805.66px;left:1285.83px;white-space:nowrap">Fiduciary </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9805.66px;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:9805.66px;left:2379.42px;white-space:nowrap">- </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9805.66px;left:2477.16px;white-space:nowrap">Money </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9805.66px;left:3001.84px;white-space:nowrap">Market </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9805.66px;left:3535.28px;white-space:nowrap">Portfolio, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9805.66px;left:4211.14px;white-space:nowrap">0%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9805.66px;left:4448.76px;letter-spacing:59.33px;white-space:nowrap">........</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9805.66px;left:5663.45px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9805.66px;left:6170.41px;white-space:nowrap">States</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9805.66px;left:7591.61px;white-space:nowrap">1,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9805.66px;left:9679.61px;white-space:nowrap">1,000</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:1.9px;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:4639.95px;left:0px;white-space:nowrap">See </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4639.95px;left:262.73px;white-space:nowrap">Abbreviations </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4639.95px;left:1094.22px;white-space:nowrap">on </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4639.95px;left:1276.64px;white-space:nowrap">page </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4639.95px;left:1605px;white-space:nowrap">32</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4639.95px;left:1750.94px;white-space:nowrap">.</div><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:538.36px;left:0px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:80px;position:absolute;top:538.36px;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:470.62px;left:6010.72px;white-space:nowrap">Country</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:278.62px;left:7388.22px;white-space:nowrap">Principal </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:470.62px;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:473.83px;left:8027.7px;white-space:nowrap">*</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:80px;position:absolute;top:538.36px;left:8451.51px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:470.62px;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:683.72px;left:0px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;position:absolute;top:683.72px;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:683.72px;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:683.72px;left:8052.88px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;position:absolute;top:683.72px;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:683.72px;left:10068.88px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:776.23px;left:432px;white-space:nowrap">Repurchase </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:776.23px;left:1386.45px;white-space:nowrap">Agreements </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:776.23px;left:2355.67px;white-space:nowrap">0.0%</div><div style="font-family:Arial, sans-serif;font-size:93.3px;font-weight:bold;position:absolute;top:779.44px;left:2720.36px;white-space:nowrap">&#8224;</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:975.92px;left:380.12px;white-space:nowrap">n</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:972.71px;left:432px;white-space:nowrap">Joint </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:972.71px;left:814.42px;white-space:nowrap">Repurchase </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:972.71px;left:1712.78px;white-space:nowrap">Agreement, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:972.71px;left:2584.34px;letter-spacing:-0.72px;white-space:nowrap">BNP </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:972.71px;left:2954.89px;white-space:nowrap">Paribas </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:972.71px;left:3541.84px;white-space:nowrap">SA, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:972.71px;left:3844.19px;white-space:nowrap">0.01%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:972.71px;left:4386.77px;white-space:nowrap">3/01/21 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1164.71px;left:576px;white-space:nowrap">(Maturity </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1164.71px;left:1242.72px;letter-spacing:-1.98px;white-space:nowrap">Value </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1164.71px;left:1684.52px;white-space:nowrap">$359)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1356.71px;left:576px;white-space:nowrap">Collateralized </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1356.71px;left:1589.83px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1356.71px;left:1803.27px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1356.71px;left:2156px;letter-spacing:-0.66px;white-space:nowrap">Treasury </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1356.71px;left:2825.77px;white-space:nowrap">Bonds, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1356.71px;left:3368.34px;white-space:nowrap">Strip, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1356.71px;left:3786.23px;letter-spacing:-1.32px;white-space:nowrap">11/15/22 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1356.71px;left:4441.63px;white-space:nowrap">- </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1356.71px;left:4539.36px;letter-spacing:-1.19px;white-space:nowrap">11/15/25; </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1548.71px;left:576px;white-space:nowrap">U.S </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1548.71px;left:884.28px;letter-spacing:-0.66px;white-space:nowrap">Treasury </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1548.71px;left:1554.05px;white-space:nowrap">Note, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1548.71px;left:1980.92px;white-space:nowrap">1.25%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1548.71px;left:2523.5px;white-space:nowrap">4/30/21; </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1548.71px;left:3146.23px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1548.71px;left:3457.64px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1548.71px;left:3810.38px;letter-spacing:-0.66px;white-space:nowrap">Treasury </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1548.71px;left:4480.14px;white-space:nowrap">Bills, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1740.71px;left:576px;white-space:nowrap">Discount </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1740.71px;left:1242.95px;white-space:nowrap">Notes, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1740.71px;left:1749.83px;white-space:nowrap">4/22/21 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1740.71px;left:2328.11px;white-space:nowrap">- </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1740.71px;left:2425.84px;white-space:nowrap">8/26/21 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1740.71px;left:3004.13px;white-space:nowrap">(valued </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1740.71px;left:3573.34px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1740.71px;left:3751.23px;white-space:nowrap">$366)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1740.71px;left:4168.52px;letter-spacing:56.5px;white-space:nowrap">...........</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1740.71px;left:7725.05px;white-space:nowrap">359</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1740.71px;left:9724.06px;white-space:nowrap">$</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1740.71px;left:9813.05px;white-space:nowrap">359</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:2019.73px;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:2019.73px;left:950.46px;white-space:nowrap">Investments </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:2019.73px;left:2173.11px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:2019.73px;left:2673.11px;white-space:nowrap">Cash </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:2019.73px;left:3217.74px;white-space:nowrap">Collateral </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:2019.73px;left:4184.73px;white-space:nowrap">Received </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:2019.73px;left:5118.62px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:2019.73px;left:5440.79px;white-space:nowrap">Loaned </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:2019.73px;left:6207.49px;white-space:nowrap">Securities </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:2259.73px;left:432px;white-space:nowrap">(Cost </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:2259.73px;left:998.6px;white-space:nowrap">$1,359)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:200px;position:absolute;top:2259.73px;left:1686.8px;letter-spacing:50.06px;white-space:nowrap">................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2293.6px;left:9679.61px;white-space:nowrap">1,359</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:2865.12px;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:2865.12px;left:950.46px;white-space:nowrap">Short </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:2865.12px;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:2865.12px;left:2057.98px;white-space:nowrap">Investments </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:2865.12px;left:3280.63px;white-space:nowrap">(Cost </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:2865.12px;left:3847.23px;white-space:nowrap">$2,583,770</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:2865.12px;left:4848.21px;white-space:nowrap">)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:200px;position:absolute;top:2865.12px;left:4928.36px;letter-spacing:51.06px;white-space:nowrap">.................................</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2898.98px;left:9368.2px;white-space:nowrap">2,583,770</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:10px;font-weight:bold;position:absolute;top:3295.11px;left:10074.44px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:3359.84px;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:3359.84px;left:950.46px;white-space:nowrap">Investments </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:3359.84px;left:2173.11px;white-space:nowrap">(Cost </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:3359.84px;left:2739.71px;white-space:nowrap">$231,481,637) </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:3359.84px;left:4085.32px;white-space:nowrap">131.6%</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:3359.84px;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:3393.71px;left:9110.08px;letter-spacing:-0.74px;white-space:nowrap">$276,117,838</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:3585.45px;left:432px;white-space:nowrap">Notes </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:3585.45px;left:1043.23px;white-space:nowrap">Payable </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:3585.45px;left:1854.85px;white-space:nowrap">(31.0)%</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:3585.45px;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:3619.32px;left:9172.66px;white-space:nowrap">(64,939,708)</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:3811.05px;left:432px;white-space:nowrap">Other </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:3811.05px;left:1013.54px;white-space:nowrap">Assets, </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:3811.05px;left:1780.63px;white-space:nowrap">less </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:3811.05px;left:2225.46px;white-space:nowrap">Liabilities </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:3811.05px;left:3203.48px;white-space:nowrap">(0.6)%</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:3811.05px;left:3882.69px;letter-spacing:50.58px;white-space:nowrap">...........................................</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3844.92px;left:9261.64px;white-space:nowrap">(1,407,093)</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:4131.22px;left:432px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:4131.22px;left:802.41px;white-space:nowrap">Assets </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:4131.22px;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:4131.22px;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:4165.09px;left:9101.25px;white-space:nowrap">$209,771,037</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:93.3px;position:absolute;top:5060.65px;left:0px;white-space:nowrap">* </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5056.43px;left:49.69px;white-space:nowrap">The </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5056.43px;left:312.27px;white-space:nowrap">principal </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5056.43px;left:837.35px;white-space:nowrap">amount </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5056.43px;left:1311.49px;white-space:nowrap">is </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5056.43px;left:1442.74px;white-space:nowrap">stated </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5056.43px;left:1836.72px;white-space:nowrap">in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5056.43px;left:1975.32px;white-space:nowrap">U.S. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5056.43px;left:2266.96px;white-space:nowrap">dollars </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5056.43px;left:2689.93px;white-space:nowrap">unless </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5056.43px;left:3105.71px;white-space:nowrap">otherwise </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5056.43px;left:3703.68px;white-space:nowrap">indicated.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:93.3px;position:absolute;top:5257.13px;left:0px;white-space:nowrap">&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5252.91px;left:63.81px;white-space:nowrap">Rounds </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5252.91px;left:552.48px;white-space:nowrap">to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5252.91px;left:698.42px;white-space:nowrap">less </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5252.91px;left:968.26px;white-space:nowrap">than </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5252.91px;left:1260.14px;white-space:nowrap">0.1% </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5252.91px;left:1595.69px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5252.91px;left:1741.62px;white-space:nowrap">net </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5252.91px;left:1960.53px;white-space:nowrap">assets.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:93.3px;position:absolute;top:5453.62px;left:0px;white-space:nowrap">a </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5449.4px;left:63.81px;white-space:nowrap">Non-income </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5449.4px;left:807.56px;white-space:nowrap">producing.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:93.3px;position:absolute;top:5650.1px;left:0px;white-space:nowrap">b </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5645.88px;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:5645.88px;left:176.42px;white-space:nowrap">portion </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5645.88px;left:614.07px;white-space:nowrap">or </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5645.88px;left:767.2px;white-space:nowrap">all </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5645.88px;left:934.93px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5645.88px;left:1080.87px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5645.88px;left:1299.78px;white-space:nowrap">security </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5645.88px;left:1788.37px;white-space:nowrap">is </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5645.88px;left:1919.62px;white-space:nowrap">on </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5645.88px;left:2102.04px;white-space:nowrap">loan </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5645.88px;left:2386.57px;white-space:nowrap">at </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5645.88px;left:2532.51px;white-space:nowrap">February </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5645.88px;left:3094px;white-space:nowrap">28, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5645.88px;left:3312.9px;white-space:nowrap">2021. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5645.88px;left:3677.75px;white-space:nowrap">See </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5645.88px;left:3947.67px;white-space:nowrap">Note </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5645.88px;left:4261.26px;white-space:nowrap">1(d).</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:93.3px;position:absolute;top:5846.59px;left:0px;white-space:nowrap">c </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5842.37px;left:59.53px;white-space:nowrap">Fair </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5842.37px;left:321.95px;white-space:nowrap">valued </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5842.37px;left:745.08px;white-space:nowrap">using </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5842.37px;left:1095.23px;text-rendering:optimizeLegibility;white-space:nowrap">significant </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5842.37px;left:1715.23px;white-space:nowrap">unobservable </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5842.37px;left:2539.53px;white-space:nowrap">inputs. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5842.37px;left:2962.65px;white-space:nowrap">See </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5842.37px;left:3232.58px;white-space:nowrap">Note </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5842.37px;left:3546.17px;white-space:nowrap">10 </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5842.37px;left:3728.59px;white-space:nowrap">regarding </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5842.37px;left:4319.37px;white-space:nowrap">fair </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5842.37px;left:4538.12px;white-space:nowrap">value </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5842.37px;left:4888.28px;white-space:nowrap">measurements.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:93.3px;position:absolute;top:6043.07px;left:0px;white-space:nowrap">d </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6038.85px;left:63.81px;white-space:nowrap">Income </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6038.85px;left:530.61px;white-space:nowrap">may </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6038.85px;left:814.98px;white-space:nowrap">be </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6038.85px;left:997.4px;white-space:nowrap">received </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6038.85px;left:1529.83px;white-space:nowrap">in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6038.85px;left:1668.42px;white-space:nowrap">additional </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6038.85px;left:2266.62px;white-space:nowrap">securities </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6038.85px;left:2857.33px;white-space:nowrap">and/or </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6038.85px;left:3265.84px;white-space:nowrap">cash.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:93.3px;position:absolute;top:6239.56px;left:0px;white-space:nowrap">e </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6235.34px;left:63.81px;white-space:nowrap">Perpetual </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6235.34px;left:661.94px;white-space:nowrap">security </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6235.34px;left:1150.53px;white-space:nowrap">with </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6235.34px;left:1420.3px;white-space:nowrap">no </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6235.34px;left:1602.72px;white-space:nowrap">stated </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6235.34px;left:1996.7px;white-space:nowrap">maturity </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6235.34px;left:2499.83px;white-space:nowrap">date.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:93.3px;position:absolute;top:6436.04px;left:0px;white-space:nowrap">f </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6431.82px;left:42.54px;white-space:nowrap">Security </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6431.82px;left:553.01px;white-space:nowrap">was </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6431.82px;left:822.77px;white-space:nowrap">purchased </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6431.82px;left:1471.99px;white-space:nowrap">pursuant </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6431.82px;left:2019.1px;white-space:nowrap">to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6431.82px;left:2165.04px;white-space:nowrap">Rule </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6431.82px;left:2471.29px;letter-spacing:-1.44px;white-space:nowrap">144A </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6431.82px;left:2806.99px;white-space:nowrap">or </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6431.82px;left:2960.12px;white-space:nowrap">Regulation </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6431.82px;left:3623.87px;white-space:nowrap">S </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6431.82px;left:3747.85px;white-space:nowrap">under </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6431.82px;left:4119.88px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6431.82px;left:4338.79px;white-space:nowrap">Securities </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6431.82px;left:4944.18px;white-space:nowrap">Act </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6431.82px;left:5170.27px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6431.82px;left:5316.21px;white-space:nowrap">1933. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6431.82px;left:5681.06px;letter-spacing:-1.44px;white-space:nowrap">144A </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6431.82px;left:6016.76px;white-space:nowrap">securities </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6431.82px;left:6607.46px;white-space:nowrap">may </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6431.82px;left:6891.84px;white-space:nowrap">be </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6431.82px;left:7074.26px;white-space:nowrap">sold </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6431.82px;left:7351.45px;white-space:nowrap">in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6431.82px;left:7490.04px;white-space:nowrap">transactions </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6431.82px;left:8234.02px;white-space:nowrap">exempt </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6431.82px;left:8700.82px;white-space:nowrap">from </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6431.82px;left:8999.73px;white-space:nowrap">registration </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6431.82px;left:9685.27px;white-space:nowrap">only </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6623.82px;left:0px;white-space:nowrap">to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6623.82px;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:6623.82px;left:671.17px;white-space:nowrap">institutional </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6623.82px;left:1364.14px;white-space:nowrap">buyers </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6623.82px;left:1794.45px;white-space:nowrap">or </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6623.82px;left:1947.58px;white-space:nowrap">in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6623.82px;left:2086.17px;white-space:nowrap">a </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6623.82px;left:2195.63px;white-space:nowrap">public </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6623.82px;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:6623.82px;left:3046.8px;white-space:nowrap">registered </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6623.82px;left:3666.72px;white-space:nowrap">under </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6623.82px;left:4038.75px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6623.82px;left:4257.66px;white-space:nowrap">Securities </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6623.82px;left:4863.05px;white-space:nowrap">Act </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6623.82px;left:5089.14px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6623.82px;left:5235.08px;white-space:nowrap">1933. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6623.82px;left:5599.92px;white-space:nowrap">Regulation </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6623.82px;left:6263.67px;white-space:nowrap">S </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6623.82px;left:6387.66px;white-space:nowrap">securities </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6623.82px;left:6978.36px;white-space:nowrap">cannot </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6623.82px;left:7408.83px;white-space:nowrap">be </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6623.82px;left:7591.25px;white-space:nowrap">sold </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6623.82px;left:7868.44px;white-space:nowrap">in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6623.82px;left:8007.03px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6623.82px;left:8225.94px;white-space:nowrap">United </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6623.82px;left:8641.64px;white-space:nowrap">States </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6623.82px;left:9050.16px;white-space:nowrap">without </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6623.82px;left:9502.34px;white-space:nowrap">either </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6623.82px;left:9867.03px;white-space:nowrap">an </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6815.82px;left:0px;letter-spacing:-0.23px;white-space:nowrap">effective </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6815.82px;left:522.97px;white-space:nowrap">registration </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6815.82px;left:1208.52px;white-space:nowrap">statement </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6815.82px;left:1821.25px;text-rendering:optimizeLegibility;white-space:nowrap">filed </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6815.82px;left:2098.44px;white-space:nowrap">pursuant </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6815.82px;left:2645.55px;white-space:nowrap">to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6815.82px;left:2791.48px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6815.82px;left:3010.39px;white-space:nowrap">Securities </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6815.82px;left:3615.78px;white-space:nowrap">Act </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6815.82px;left:3841.88px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6815.82px;left:3987.81px;white-space:nowrap">1933, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6815.82px;left:4352.66px;white-space:nowrap">or </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6815.82px;left:4505.78px;white-space:nowrap">pursuant </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6815.82px;left:5052.89px;white-space:nowrap">to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6815.82px;left:5198.83px;white-space:nowrap">an </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6815.82px;left:5381.25px;white-space:nowrap">exemption </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6815.82px;left:6023.13px;white-space:nowrap">from </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6815.82px;left:6322.03px;white-space:nowrap">registration. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6815.82px;left:7036.88px;white-space:nowrap">At </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6815.82px;left:7197.34px;white-space:nowrap">February </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6815.82px;left:7758.83px;white-space:nowrap">28, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6815.82px;left:7977.73px;white-space:nowrap">2021, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6815.82px;left:8342.58px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6815.82px;left:8561.48px;white-space:nowrap">aggregate </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6815.82px;left:9188.91px;white-space:nowrap">value </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6815.82px;left:9539.06px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6815.82px;left:9685px;white-space:nowrap">these </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7007.82px;left:0px;white-space:nowrap">securities </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7007.82px;left:590.7px;white-space:nowrap">was </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7007.82px;left:860.47px;white-space:nowrap">$148,423,050, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7007.82px;left:1736.09px;white-space:nowrap">representing </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7007.82px;left:2501.95px;white-space:nowrap">70.8% </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7007.82px;left:2910.47px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7007.82px;left:3056.41px;white-space:nowrap">net </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7007.82px;left:3275.31px;white-space:nowrap">assets.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:93.3px;position:absolute;top:7208.53px;left:0px;white-space:nowrap">g </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7204.3px;left:63.81px;white-space:nowrap">See </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7204.3px;left:333.73px;white-space:nowrap">Note </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7204.3px;left:647.33px;white-space:nowrap">8 </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7204.3px;left:756.78px;white-space:nowrap">regarding </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7204.3px;left:1384.05px;white-space:nowrap">defaulted </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7204.3px;left:1960.45px;white-space:nowrap">securities.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:93.3px;position:absolute;top:7405.01px;left:0px;white-space:nowrap">h </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7400.79px;left:62.49px;white-space:nowrap">The </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7400.79px;left:325.07px;white-space:nowrap">coupon </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7400.79px;left:792.02px;white-space:nowrap">rate </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7400.79px;left:1054.6px;white-space:nowrap">shown </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7400.79px;left:1470.3px;white-space:nowrap">represents </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7400.79px;left:2126.71px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7400.79px;left:2345.61px;white-space:nowrap">rate </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7400.79px;left:2608.19px;white-space:nowrap">at </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7400.79px;left:2754.13px;white-space:nowrap">period </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7400.79px;left:3155.3px;white-space:nowrap">end.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:93.3px;position:absolute;top:7601.49px;left:0px;white-space:nowrap">i </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7597.27px;left:38.26px;white-space:nowrap">See </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7597.27px;left:308.18px;white-space:nowrap">Note </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7597.27px;left:621.77px;white-space:nowrap">1(e) </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7597.27px;left:891.54px;white-space:nowrap">regarding </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7597.27px;left:1482.32px;white-space:nowrap">Marketplace </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7597.27px;left:2233.49px;white-space:nowrap">Lending.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:93.3px;position:absolute;top:7797.98px;left:0px;white-space:nowrap">j </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7793.76px;left:34.07px;white-space:nowrap">Adjustable </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7793.76px;left:683.29px;white-space:nowrap">rate </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7793.76px;left:945.87px;white-space:nowrap">security </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7793.76px;left:1434.46px;white-space:nowrap">with </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7793.76px;left:1704.23px;white-space:nowrap">an </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7793.76px;left:1886.65px;white-space:nowrap">interest </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7793.76px;left:2353.44px;white-space:nowrap">rate </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7793.76px;left:2616.02px;white-space:nowrap">that </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7793.76px;left:2871.41px;white-space:nowrap">is </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7793.76px;left:3002.66px;white-space:nowrap">not </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7793.76px;left:3221.57px;white-space:nowrap">based </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7793.76px;left:3615.55px;white-space:nowrap">on </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7793.76px;left:3797.98px;white-space:nowrap">a </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7793.76px;left:3907.43px;white-space:nowrap">published </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7793.76px;left:4505.63px;white-space:nowrap">reference </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7793.76px;left:5096.41px;letter-spacing:0px;white-space:nowrap">index </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7793.76px;left:5446.57px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7793.76px;left:5701.96px;letter-spacing:-0.17px;white-space:nowrap">spread.&#160;&#160;The </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7793.76px;left:6472.9px;white-space:nowrap">rate </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7793.76px;left:6735.48px;white-space:nowrap">is </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7793.76px;left:6866.73px;white-space:nowrap">based </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7793.76px;left:7260.71px;white-space:nowrap">on </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7793.76px;left:7443.13px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7793.76px;left:7662.04px;white-space:nowrap">structure </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7793.76px;left:8208.99px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7793.76px;left:8354.93px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7793.76px;left:8573.83px;white-space:nowrap">agreement </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7793.76px;left:9237.58px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7793.76px;left:9492.98px;white-space:nowrap">current </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7985.76px;left:0px;white-space:nowrap">market </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7985.76px;left:437.5px;white-space:nowrap">conditions. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7985.76px;left:1099.06px;white-space:nowrap">The </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7985.76px;left:1361.64px;white-space:nowrap">coupon </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7985.76px;left:1828.59px;white-space:nowrap">rate </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7985.76px;left:2091.17px;white-space:nowrap">shown </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7985.76px;left:2506.88px;white-space:nowrap">represents </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7985.76px;left:3163.28px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7985.76px;left:3382.19px;white-space:nowrap">rate </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7985.76px;left:3644.77px;white-space:nowrap">at </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7985.76px;left:3790.7px;white-space:nowrap">period </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7985.76px;left:4191.88px;white-space:nowrap">end.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:93.3px;position:absolute;top:8186.46px;left:0px;white-space:nowrap">k </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8182.24px;left:59.53px;white-space:nowrap">See </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8182.24px;left:329.45px;white-space:nowrap">Note </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8182.24px;left:643.05px;white-space:nowrap">4(c) </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8182.24px;left:905.47px;white-space:nowrap">regarding </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8182.24px;left:1496.25px;white-space:nowrap">investments </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8182.24px;left:2232.89px;white-space:nowrap">in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8182.24px;left:2371.48px;text-rendering:optimizeLegibility;white-space:nowrap">affiliated </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8182.24px;left:2896.72px;white-space:nowrap">management </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8182.24px;left:3699.06px;white-space:nowrap">investment </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8182.24px;left:4370.08px;white-space:nowrap">companies.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:93.3px;position:absolute;top:8382.95px;left:0px;white-space:nowrap">l </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8378.73px;left:36.94px;white-space:nowrap">The </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8378.73px;left:299.52px;white-space:nowrap">rate </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8378.73px;left:562.09px;white-space:nowrap">shown </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8378.73px;left:977.8px;white-space:nowrap">is </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8378.73px;left:1109.05px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8378.73px;left:1327.95px;white-space:nowrap">annualized </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8378.73px;left:1999.13px;white-space:nowrap">seven-day </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8378.73px;left:2641px;letter-spacing:-0.23px;white-space:nowrap">effective </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8378.73px;left:3163.97px;white-space:nowrap">yield </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8378.73px;left:3470.3px;white-space:nowrap">at </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8378.73px;left:3616.24px;white-space:nowrap">period </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8378.73px;left:4017.41px;white-space:nowrap">end.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:93.3px;position:absolute;top:8579.43px;left:0px;white-space:nowrap">m </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8575.21px;left:84.99px;white-space:nowrap">See </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8575.21px;left:354.91px;white-space:nowrap">Note </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8575.21px;left:668.51px;white-space:nowrap">1(d) </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8575.21px;left:938.27px;white-space:nowrap">regarding </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8575.21px;left:1529.05px;white-space:nowrap">securities </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8575.21px;left:2119.76px;white-space:nowrap">on </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8575.21px;left:2302.18px;white-space:nowrap">loan.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:93.3px;position:absolute;top:8775.92px;left:0px;white-space:nowrap">n </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8771.7px;left:63.81px;white-space:nowrap">See </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8771.7px;left:333.73px;white-space:nowrap">Note </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8771.7px;left:647.33px;white-space:nowrap">1(c) </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8771.7px;left:909.75px;white-space:nowrap">regarding </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8771.7px;left:1500.53px;white-space:nowrap">joint </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8771.7px;left:1777.72px;white-space:nowrap">repurchase </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8771.7px;left:2470.61px;white-space:nowrap">agreement.</div></div>
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			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:3572.9px;white-space:nowrap">The </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:3835.48px;white-space:nowrap">accompanying </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:4718.06px;white-space:nowrap">notes </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:5075.56px;white-space:nowrap">are </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:5301.65px;white-space:nowrap">an </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:5484.08px;white-space:nowrap">integral </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:5950.87px;white-space:nowrap">part </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:6213.45px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:6359.39px;white-space:nowrap">these </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:6716.89px;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:7234.78px;white-space:nowrap">statements.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:8069.08px;white-space:nowrap">Semiannual </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 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			<div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:53.02px;left:9457.66px;white-space:nowrap">Franklin </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:245.02px;left:8923.98px;white-space:nowrap">Universal </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:245.02px;left:9688.83px;letter-spacing:-1.77px;white-space:nowrap">Trust</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:554.96px;left:0px;white-space:nowrap">Assets:</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:757.44px;left:144px;white-space:nowrap">Investments </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:757.44px;left:1051.03px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:757.44px;left:1220.02px;white-space:nowrap">securities:</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:959.92px;left:288px;white-space:nowrap">Cost </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:959.92px;left:661.44px;white-space:nowrap">- </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:959.92px;left:759.17px;text-rendering:optimizeLegibility;white-space:nowrap">Unaffiliated </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:959.92px;left:1604.09px;white-space:nowrap">issuers</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:959.92px;left:2148.5px;letter-spacing:49.55px;white-space:nowrap">...................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:959.92px;left:9101.25px;white-space:nowrap">$228,897,867</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1162.41px;left:288px;white-space:nowrap">Cost </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1162.41px;left:661.44px;white-space:nowrap">- </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1162.41px;left:759.17px;white-space:nowrap">Non-controlled </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1162.41px;left:1844.17px;text-rendering:optimizeLegibility;white-space:nowrap">affiliates </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1162.41px;left:2475.58px;white-space:nowrap">(Note </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1162.41px;left:2911.28px;white-space:nowrap">4c)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1162.41px;left:3176.05px;letter-spacing:49.67px;white-space:nowrap">........................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1162.41px;left:9380.08px;letter-spacing:-1.32px;white-space:nowrap">2,583,411</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1364.89px;left:288px;white-space:nowrap">Cost </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1364.89px;left:661.44px;white-space:nowrap">- </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1364.89px;left:759.17px;text-rendering:optimizeLegibility;white-space:nowrap">Unaffiliated </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1364.89px;left:1604.09px;white-space:nowrap">repurchase </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1364.89px;left:2449.02px;white-space:nowrap">agreements</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1364.89px;left:3362.87px;letter-spacing:49.7px;white-space:nowrap">......................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1364.89px;left:9813.05px;white-space:nowrap">359</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1648.83px;left:288px;letter-spacing:-1.98px;white-space:nowrap">Value </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1648.83px;left:729.8px;white-space:nowrap">- </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1648.83px;left:827.53px;text-rendering:optimizeLegibility;white-space:nowrap">Unaffiliated </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1648.83px;left:1672.45px;white-space:nowrap">issuers </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1648.83px;left:2268.16px;white-space:nowrap">(Includes </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1648.83px;left:2961.83px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1648.83px;left:3682.06px;white-space:nowrap">loaned </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1648.83px;left:4206.98px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1648.83px;left:4384.88px;white-space:nowrap">$1,296)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1648.83px;left:4950.9px;letter-spacing:50.04px;white-space:nowrap">.....................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1648.83px;left:9101.25px;white-space:nowrap">$273,534,068</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1851.32px;left:288px;letter-spacing:-1.98px;white-space:nowrap">Value </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1851.32px;left:729.8px;white-space:nowrap">- </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1851.32px;left:827.53px;white-space:nowrap">Non-controlled </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1851.32px;left:1912.53px;text-rendering:optimizeLegibility;white-space:nowrap">affiliates </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1851.32px;left:2543.94px;white-space:nowrap">(Note </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1851.32px;left:2979.64px;white-space:nowrap">4c)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1851.32px;left:3269.46px;letter-spacing:49.68px;white-space:nowrap">.......................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1851.32px;left:9380.08px;letter-spacing:-1.32px;white-space:nowrap">2,583,411</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2053.8px;left:288px;letter-spacing:-1.98px;white-space:nowrap">Value </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2053.8px;left:729.8px;white-space:nowrap">- </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2053.8px;left:827.53px;text-rendering:optimizeLegibility;white-space:nowrap">Unaffiliated </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2053.8px;left:1672.45px;white-space:nowrap">repurchase </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2053.8px;left:2517.38px;white-space:nowrap">agreements</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2053.8px;left:3362.87px;letter-spacing:49.7px;white-space:nowrap">......................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2053.8px;left:9813.05px;white-space:nowrap">359</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2256.29px;left:144px;white-space:nowrap">Cash</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2256.29px;left:560.48px;letter-spacing:49.43px;white-space:nowrap">....................................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2256.29px;left:9501.64px;white-space:nowrap">991,400</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2458.77px;left:144px;white-space:nowrap">Receivables:</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2661.26px;left:288px;white-space:nowrap">Investment </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2661.26px;left:1115.03px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2661.26px;left:1835.27px;white-space:nowrap">sold</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2661.26px;left:2148.5px;letter-spacing:49.55px;white-space:nowrap">...................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2661.26px;left:9501.64px;white-space:nowrap">307,875</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2863.74px;left:288px;white-space:nowrap">Dividends </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2863.74px;left:1035.03px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2863.74px;left:1346.44px;white-space:nowrap">interest</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2863.74px;left:1961.68px;letter-spacing:49.54px;white-space:nowrap">.....................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2863.74px;left:9368.2px;white-space:nowrap">3,124,543</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3095.22px;left:576px;letter-spacing:-2.96px;white-space:nowrap">Total </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3095.22px;left:958.42px;white-space:nowrap">assets</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3095.22px;left:1494.61px;letter-spacing:49.5px;white-space:nowrap">..........................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3095.22px;left:9190.23px;white-space:nowrap">280,541,656</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3326.71px;left:0px;white-space:nowrap">Liabilities:</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3529.19px;left:144px;white-space:nowrap">Payables:</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3731.68px;left:288px;white-space:nowrap">Investment </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3731.68px;left:1115.03px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3731.68px;left:1835.27px;white-space:nowrap">purchased</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3731.68px;left:2615.57px;letter-spacing:49.6px;white-space:nowrap">..............................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3731.68px;left:9368.2px;white-space:nowrap">3,500,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3934.16px;left:288px;white-space:nowrap">Management </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3934.16px;left:1266.36px;white-space:nowrap">fees</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3934.16px;left:1588.02px;letter-spacing:49.51px;white-space:nowrap">.........................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3934.16px;left:9501.64px;white-space:nowrap">176,019</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4136.65px;left:288px;white-space:nowrap">Distributions </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4136.65px;left:1212.77px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4136.65px;left:1390.66px;white-space:nowrap">shareholders</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4136.65px;left:2335.33px;letter-spacing:49.57px;white-space:nowrap">.................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4136.65px;left:9501.64px;white-space:nowrap">804,221</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4339.13px;left:288px;white-space:nowrap">Accrued </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4339.13px;left:919.41px;white-space:nowrap">interest </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4339.13px;left:1488.55px;white-space:nowrap">(Note </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4339.13px;left:1924.25px;white-space:nowrap">3)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4339.13px;left:2148.5px;letter-spacing:49.55px;white-space:nowrap">...................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4339.13px;left:9368.2px;white-space:nowrap">1,155,860</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4541.62px;left:144px;white-space:nowrap">Payable </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4541.62px;left:766.66px;white-space:nowrap">upon </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4541.62px;left:1167.05px;white-space:nowrap">return </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4541.62px;left:1629.47px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4541.62px;left:1807.36px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4541.62px;left:2527.59px;white-space:nowrap">loaned </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4541.62px;left:3052.52px;white-space:nowrap">(Note </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4541.62px;left:3488.22px;white-space:nowrap">1d)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4541.62px;left:3736.52px;letter-spacing:49.76px;white-space:nowrap">..................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4541.62px;left:9679.61px;white-space:nowrap">1,359</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4744.1px;left:144px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4744.1px;left:650.95px;text-rendering:optimizeLegibility;white-space:nowrap">fixed </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4744.1px;left:1033.38px;white-space:nowrap">rate </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4744.1px;left:1353.53px;white-space:nowrap">Notes, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4744.1px;left:1860.41px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4744.1px;left:2038.3px;white-space:nowrap">par </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4744.1px;left:2314px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4744.1px;left:2740.95px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4744.1px;left:2918.84px;white-space:nowrap">$65,000,000 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4744.1px;left:3853.06px;white-space:nowrap">less </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4744.1px;left:4182.05px;white-space:nowrap">unamortized </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4744.1px;left:5106.97px;white-space:nowrap">No</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4744.1px;left:5311.5px;white-space:nowrap">te </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4744.1px;left:5489.39px;white-space:nowrap">issuance </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4744.1px;left:6165.33px;white-space:nowrap">costs </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4744.1px;left:6583.22px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4744.1px;left:6761.11px;white-space:nowrap">$60,292 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4744.1px;left:7383.92px;white-space:nowrap">(Note </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4744.1px;left:7819.63px;white-space:nowrap">3)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4744.1px;left:8033.53px;letter-spacing:58.92px;white-space:nowrap">....</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4744.1px;left:9279.22px;white-space:nowrap">64,939,708</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4946.58px;left:144px;white-space:nowrap">Accrued </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4946.58px;left:775.41px;white-space:nowrap">expenses </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4946.58px;left:1504.78px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4946.58px;left:1816.19px;white-space:nowrap">other </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4946.58px;left:2225.33px;white-space:nowrap">liabilities</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4946.58px;left:2895.81px;letter-spacing:49.64px;white-space:nowrap">...........................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4946.58px;left:9501.64px;white-space:nowrap">193,452</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5178.07px;left:576px;letter-spacing:-2.96px;white-space:nowrap">Total </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5178.07px;left:958.42px;white-space:nowrap">liabilities</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5178.07px;left:1588.02px;letter-spacing:49.51px;white-space:nowrap">.........................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5178.07px;left:9279.22px;white-space:nowrap">70,770,619</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5438.55px;left:864px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5438.55px;left:1157.44px;white-space:nowrap">assets, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5438.55px;left:1708.77px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5438.55px;left:1886.66px;white-space:nowrap">value</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5438.55px;left:2335.33px;letter-spacing:49.57px;white-space:nowrap">.................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5438.55px;left:9101.25px;white-space:nowrap">$209,771,037</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5844.49px;left:0px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5844.49px;left:293.44px;white-space:nowrap">assets </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5844.49px;left:800.31px;white-space:nowrap">consist </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5844.49px;left:1342.73px;white-space:nowrap">of:</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6075.98px;left:144px;white-space:nowrap">Paid-in </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6075.98px;left:686.5px;white-space:nowrap">capital</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6075.98px;left:1214.37px;letter-spacing:49.48px;white-space:nowrap">.............................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6075.98px;left:9101.25px;white-space:nowrap">$164,245,962</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6278.46px;left:144px;letter-spacing:-2.96px;white-space:nowrap">Total </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6278.46px;left:526.42px;white-space:nowrap">distributable </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6278.46px;left:1433.61px;white-space:nowrap">earnings </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6278.46px;left:2091.81px;white-space:nowrap">(losses)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6278.46px;left:2708.98px;letter-spacing:49.61px;white-space:nowrap">.............................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6278.46px;left:9279.22px;white-space:nowrap">45,525,075</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6509.95px;left:864px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6509.95px;left:1157.44px;white-space:nowrap">assets, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6509.95px;left:1708.77px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6509.95px;left:1886.66px;white-space:nowrap">value</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6509.95px;left:2335.33px;letter-spacing:49.57px;white-space:nowrap">.................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6509.95px;left:9101.25px;white-space:nowrap">$209,771,037</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6770.43px;left:144px;white-space:nowrap">Shares </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6770.43px;left:695.41px;white-space:nowrap">outstanding</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6770.43px;left:1588.02px;letter-spacing:49.51px;white-space:nowrap">.........................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6770.43px;left:9279.22px;white-space:nowrap">25,131,894</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7030.92px;left:144px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7030.92px;left:437.44px;white-space:nowrap">asset </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7030.92px;left:864.31px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7030.92px;left:1291.27px;white-space:nowrap">per </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7030.92px;left:1566.97px;white-space:nowrap">share</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7030.92px;left:2055.09px;letter-spacing:49.55px;white-space:nowrap">....................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7030.92px;left:9679.61px;white-space:nowrap">$8.35</div></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">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">six </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:333.68px;left:830.3px;white-space:nowrap">months </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:333.68px;left:1470.59px;white-space:nowrap">ended </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:333.68px;left:2021.13px;white-space:nowrap">February </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:333.68px;left:2791.41px;white-space:nowrap">28, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:333.68px;left:3091.64px;white-space:nowrap">2021 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:333.68px;left:3542.08px;white-space:nowrap">(unaudited)</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:1196px">

				<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">Semiannual </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:729.38px;white-space:nowrap">Report</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:1279.06px;white-space:nowrap">The </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:1541.64px;white-space:nowrap">accompanying </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:2424.22px;white-space:nowrap">notes </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:2781.72px;white-space:nowrap">are </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:3007.81px;white-space:nowrap">an </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:3190.23px;white-space:nowrap">integral </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:3657.03px;white-space:nowrap">part </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:3919.61px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:4065.55px;white-space:nowrap">these </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:4423.05px;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:4940.94px;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">20</div></div>
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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:160px;font-weight:bold;position:absolute;top:53.02px;left:9457.66px;white-space:nowrap">Franklin </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:245.02px;left:8923.98px;white-space:nowrap">Universal </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:245.02px;left:9688.83px;letter-spacing:-1.77px;white-space:nowrap">Trust</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:554.96px;left:0px;white-space:nowrap">Investment </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:554.96px;left:827.03px;white-space:nowrap">income:</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:757.44px;left:144px;white-space:nowrap">Dividends: </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:757.44px;left:935.48px;white-space:nowrap">(net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:757.44px;left:1255.64px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:757.44px;left:1433.53px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:757.44px;left:1967.2px;white-space:nowrap">taxes </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:757.44px;left:2394.08px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:757.44px;left:2571.97px;white-space:nowrap">$7,523)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:959.92px;left:288px;text-rendering:optimizeLegibility;white-space:nowrap">Unaffiliated </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:959.92px;left:1132.92px;white-space:nowrap">issuers</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:959.92px;left:1681.44px;letter-spacing:49.51px;white-space:nowrap">........................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:959.92px;left:9279.22px;white-space:nowrap">$1,403,669</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1162.41px;left:144px;white-space:nowrap">Interest: </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1364.89px;left:288px;text-rendering:optimizeLegibility;white-space:nowrap">Unaffiliated </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1364.89px;left:1132.92px;white-space:nowrap">issuers</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1364.89px;left:1681.44px;letter-spacing:49.51px;white-space:nowrap">........................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1364.89px;left:9368.2px;white-space:nowrap">6,618,086</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1567.38px;left:144px;white-space:nowrap">Income </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1567.38px;left:713.14px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1567.38px;left:1077.59px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1567.38px;left:1797.83px;white-space:nowrap">loaned:</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1769.86px;left:288px;text-rendering:optimizeLegibility;white-space:nowrap">Unaffiliated </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1769.86px;left:1132.92px;white-space:nowrap">entities </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1769.86px;left:1684.33px;white-space:nowrap">(net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1769.86px;left:2004.48px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1769.86px;left:2182.38px;white-space:nowrap">fees </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1769.86px;left:2529.25px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1769.86px;left:2840.66px;white-space:nowrap">rebates)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1769.86px;left:3456.29px;letter-spacing:49.71px;white-space:nowrap">.....................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1769.86px;left:9902.03px;white-space:nowrap">67</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2001.35px;left:432px;letter-spacing:-2.96px;white-space:nowrap">Total </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2001.35px;left:814.42px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2001.35px;left:1632.55px;white-space:nowrap">income</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2001.35px;left:2148.5px;letter-spacing:49.55px;white-space:nowrap">...................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2001.35px;left:9368.2px;white-space:nowrap">8,021,822</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2232.83px;left:0px;white-space:nowrap">Expenses:</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2435.32px;left:144px;white-space:nowrap">Management </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2435.32px;left:1122.36px;white-space:nowrap">fees </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2435.32px;left:1469.23px;white-space:nowrap">(Note </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2435.32px;left:1904.94px;white-space:nowrap">4a)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2435.32px;left:2148.5px;letter-spacing:49.55px;white-space:nowrap">...................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2435.32px;left:9368.2px;white-space:nowrap">1,035,334</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2637.8px;left:144px;white-space:nowrap">Interest </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2637.8px;left:722.05px;white-space:nowrap">expense </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2637.8px;left:1371.42px;white-space:nowrap">(Note </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2637.8px;left:1807.13px;white-space:nowrap">3)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2637.8px;left:1961.68px;letter-spacing:49.54px;white-space:nowrap">.....................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2637.8px;left:9368.2px;white-space:nowrap">1,253,343</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2840.28px;left:144px;letter-spacing:-0.66px;white-space:nowrap">Transfer </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2840.28px;left:778.22px;white-space:nowrap">agent </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2840.28px;left:1223.06px;white-space:nowrap">fees</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2840.28px;left:1588.02px;letter-spacing:49.51px;white-space:nowrap">.........................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2840.28px;left:9590.63px;white-space:nowrap">29,969</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3042.77px;left:144px;white-space:nowrap">Custodian </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3042.77px;left:908.92px;white-space:nowrap">fees </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3042.77px;left:1255.8px;white-space:nowrap">(Note </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3042.77px;left:1691.5px;white-space:nowrap">5)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3042.77px;left:1868.26px;letter-spacing:49.53px;white-space:nowrap">......................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3042.77px;left:9813.05px;white-space:nowrap">749</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3245.25px;left:144px;white-space:nowrap">Reports </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3245.25px;left:748.69px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3245.25px;left:926.58px;white-space:nowrap">shareholders</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3245.25px;left:1868.26px;letter-spacing:49.53px;white-space:nowrap">......................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3245.25px;left:9602.5px;letter-spacing:-1.98px;white-space:nowrap">11,741</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3447.74px;left:144px;white-space:nowrap">Professional </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3447.74px;left:1068.92px;white-space:nowrap">fees</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3447.74px;left:1401.2px;letter-spacing:49.49px;white-space:nowrap">...........................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3447.74px;left:9501.64px;white-space:nowrap">134,882</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3650.22px;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:3650.22px;left:835.48px;white-space:nowrap">fees </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3650.22px;left:1182.36px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3650.22px;left:1493.77px;white-space:nowrap">expenses</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3650.22px;left:2241.91px;letter-spacing:49.56px;white-space:nowrap">..................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3650.22px;left:9679.61px;white-space:nowrap">3,763</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3852.71px;left:144px;white-space:nowrap">Amortization </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3852.71px;left:1077.67px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3852.71px;left:1255.56px;white-space:nowrap">note </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3852.71px;left:1611.42px;white-space:nowrap">issuance </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3852.71px;left:2287.36px;white-space:nowrap">costs </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3852.71px;left:2705.25px;white-space:nowrap">(Note </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3852.71px;left:3140.95px;white-space:nowrap">3)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3852.71px;left:3362.87px;letter-spacing:49.7px;white-space:nowrap">......................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3852.71px;left:9602.5px;letter-spacing:-1.98px;white-space:nowrap">11,300</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4055.19px;left:144px;white-space:nowrap">Marketplace </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4055.19px;left:1059.94px;white-space:nowrap">lending </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4055.19px;left:1620.41px;white-space:nowrap">fees </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4055.19px;left:1967.28px;white-space:nowrap">(Note </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4055.19px;left:2402.98px;white-space:nowrap">1e)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4055.19px;left:2708.98px;letter-spacing:49.61px;white-space:nowrap">.............................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4055.19px;left:9501.64px;white-space:nowrap">127,447</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4257.67px;left:144px;white-space:nowrap">Other</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4257.67px;left:560.48px;letter-spacing:49.43px;white-space:nowrap">....................................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4257.67px;left:9590.63px;white-space:nowrap">52,403</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4460.16px;left:432px;letter-spacing:-2.96px;white-space:nowrap">Total </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4460.16px;left:814.42px;white-space:nowrap">expenses</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4460.16px;left:1588.02px;letter-spacing:49.51px;white-space:nowrap">.........................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4460.16px;left:9368.2px;white-space:nowrap">2,660,931</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4662.64px;left:432px;white-space:nowrap">Expense </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4662.64px;left:1099.11px;white-space:nowrap">reductions </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4662.64px;left:1881.77px;white-space:nowrap">(Note </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4662.64px;left:2317.47px;white-space:nowrap">5)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4662.64px;left:2522.15px;letter-spacing:49.59px;white-space:nowrap">...............................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4662.64px;left:9884.45px;white-space:nowrap">(2)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4865.13px;left:432px;white-space:nowrap">Expenses </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4865.13px;left:1179.11px;white-space:nowrap">waived/paid </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4865.13px;left:2068.56px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4865.13px;left:2282px;text-rendering:optimizeLegibility;white-space:nowrap">affiliates </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4865.13px;left:2913.41px;white-space:nowrap">(Note </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4865.13px;left:3349.11px;white-space:nowrap">4c)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4865.13px;left:3643.11px;letter-spacing:49.74px;white-space:nowrap">...................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4865.13px;left:9573.05px;white-space:nowrap">(3,035)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5096.61px;left:576px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5096.61px;left:869.44px;white-space:nowrap">expenses</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5096.61px;left:1588.02px;letter-spacing:49.51px;white-space:nowrap">.........................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5096.61px;left:9368.2px;white-space:nowrap">2,657,894</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5357.1px;left:720px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5357.1px;left:1013.44px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5357.1px;left:1831.56px;white-space:nowrap">income</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5357.1px;left:2428.74px;letter-spacing:49.58px;white-space:nowrap">................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5357.1px;left:9368.2px;white-space:nowrap">5,363,928</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5617.58px;left:0px;white-space:nowrap">Realized </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5617.58px;left:667.03px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5617.58px;left:978.44px;white-space:nowrap">unrealized </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5617.58px;left:1761.17px;white-space:nowrap">gains </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5617.58px;left:2188.13px;white-space:nowrap">(losses):</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5878.07px;left:144px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5878.07px;left:437.44px;white-space:nowrap">realized </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5878.07px;left:1042.2px;white-space:nowrap">gain </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5878.07px;left:1389.16px;white-space:nowrap">(loss) </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5878.07px;left:1824.7px;white-space:nowrap">from:</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6109.55px;left:288px;white-space:nowrap">Investments: </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6312.03px;left:432px;text-rendering:optimizeLegibility;white-space:nowrap">Unaffiliated </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6312.03px;left:1276.92px;white-space:nowrap">issuers</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6312.03px;left:1868.26px;letter-spacing:49.53px;white-space:nowrap">......................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6312.03px;left:9368.2px;white-space:nowrap">1,069,505</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6514.52px;left:288px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6514.52px;left:874.95px;white-space:nowrap">currency </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6514.52px;left:1532.92px;white-space:nowrap">transactions</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6514.52px;left:2428.74px;letter-spacing:49.58px;white-space:nowrap">................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6514.52px;left:9813.05px;white-space:nowrap">535</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6746px;left:576px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6746px;left:869.44px;white-space:nowrap">realized </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6746px;left:1474.2px;white-space:nowrap">gain </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6746px;left:1821.16px;white-space:nowrap">(loss)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6746px;left:2241.91px;letter-spacing:49.56px;white-space:nowrap">..................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6746px;left:9368.2px;white-space:nowrap">1,070,040</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6977.49px;left:144px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6977.49px;left:437.44px;white-space:nowrap">change </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6977.49px;left:1006.81px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6977.49px;left:1175.8px;white-space:nowrap">unrealized </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6977.49px;left:1958.53px;white-space:nowrap">appreciation </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6977.49px;left:2874.7px;white-space:nowrap">(depreciation) </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6977.49px;left:3897.44px;white-space:nowrap">on:</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7179.97px;left:288px;white-space:nowrap">Investments:</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7382.46px;left:432px;text-rendering:optimizeLegibility;white-space:nowrap">Unaffiliated </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7382.46px;left:1276.92px;white-space:nowrap">issuers</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7382.46px;left:1868.26px;letter-spacing:49.53px;white-space:nowrap">......................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7382.46px;left:9368.2px;white-space:nowrap">4,068,591</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7584.94px;left:288px;letter-spacing:-0.49px;white-space:nowrap">Translation </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7584.94px;left:1118px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7584.94px;left:1295.89px;white-space:nowrap">other </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7584.94px;left:1705.03px;white-space:nowrap">assets </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7584.94px;left:2211.91px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7584.94px;left:2523.31px;white-space:nowrap">liabilities </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7584.94px;left:3172.45px;white-space:nowrap">denominated </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7584.94px;left:4142.06px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7584.94px;left:4311.05px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7584.94px;left:4844.72px;white-space:nowrap">currencies</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7584.94px;left:5604.79px;letter-spacing:50.29px;white-space:nowrap">..............................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7584.94px;left:9706.48px;white-space:nowrap">(330)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7816.42px;left:576px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7816.42px;left:869.44px;white-space:nowrap">change </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7816.42px;left:1438.81px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7816.42px;left:1607.8px;white-space:nowrap">unrealized </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7816.42px;left:2390.53px;white-space:nowrap">appreciation </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7816.42px;left:3306.7px;white-space:nowrap">(depreciation)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7816.42px;left:4297px;letter-spacing:49.87px;white-space:nowrap">............................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7816.42px;left:9368.2px;white-space:nowrap">4,068,261</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8076.91px;left:0px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8076.91px;left:293.44px;white-space:nowrap">realized </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8076.91px;left:898.2px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8076.91px;left:1209.61px;white-space:nowrap">unrealized </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8076.91px;left:1992.34px;white-space:nowrap">gain </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8076.91px;left:2339.3px;white-space:nowrap">(loss)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8076.91px;left:2802.39px;letter-spacing:49.62px;white-space:nowrap">............................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8076.91px;left:9368.2px;white-space:nowrap">5,138,301</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8337.39px;left:0px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8337.39px;left:293.44px;white-space:nowrap">increase </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8337.39px;left:942.66px;white-space:nowrap">(decrease) </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8337.39px;left:1751.88px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8337.39px;left:1920.86px;white-space:nowrap">ne</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8337.39px;left:2098.83px;white-space:nowrap">t </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8337.39px;left:2187.73px;white-space:nowrap">assets </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8337.39px;left:2694.61px;white-space:nowrap">resulting </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8337.39px;left:3343.83px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8337.39px;left:3708.28px;white-space:nowrap">operations</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8337.39px;left:4483.83px;letter-spacing:49.91px;white-space:nowrap">..........................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8337.39px;left:9190.23px;white-space:nowrap">$10,502,229</div></div>
		</div>


</div></div><div data-page="" style="page-break-after:always;margin:-8px;position:relative;height:928.8px;width:712.8px;transform-origin:top left;transform:scale(1.2,1.2)"><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:7910.95px;letter-spacing:10.67px;white-space:nowrap">Franklin </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:8704.11px;letter-spacing:10.32px;white-space:nowrap">Universal </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:9597.08px;letter-spacing:9.15px;white-space:nowrap">Trust</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">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>
		</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:7986px">

				<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:3572.9px;white-space:nowrap">The </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:3835.48px;white-space:nowrap">accompanying </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:4718.06px;white-space:nowrap">notes </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:5075.56px;white-space:nowrap">are </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:5301.65px;white-space:nowrap">an </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:5484.08px;white-space:nowrap">integral </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:5950.87px;white-space:nowrap">part </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:6213.45px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:6359.39px;white-space:nowrap">these </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:6716.89px;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:7234.78px;white-space:nowrap">statements.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:8069.08px;white-space:nowrap">Semiannual </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">21</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="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:53.02px;left:7440.59px;white-space:nowrap">Franklin </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:53.02px;left:8107.39px;white-space:nowrap">Universal </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:53.02px;left:8872.23px;letter-spacing:-1.77px;white-space:nowrap">Trust</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:313.5px;left:6965.28px;white-space:nowrap">Six </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:313.5px;left:7249.89px;white-space:nowrap">Months </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:7000.05px;white-space:nowrap">February </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">28, </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">2021</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:697.5px;left:7481.06px;white-space:nowrap">(unaudited)</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:505.5px;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:505.5px;left:9591.09px;white-space:nowrap">Ended</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:697.5px;left:8861.72px;white-space:nowrap">August </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:697.5px;left:9457.19px;white-space:nowrap">31, </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:697.5px;left:9724.06px;white-space:nowrap">2020</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1007.44px;left:0px;white-space:nowrap">Increase </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1007.44px;left:658.13px;white-space:nowrap">(decrease) </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1007.44px;left:1467.34px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1007.44px;left:1636.33px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1007.44px;left:1903.2px;white-space:nowrap">assets:</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1209.92px;left:144px;white-space:nowrap">Operations:</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1412.41px;left:288px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1412.41px;left:581.44px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1412.41px;left:1399.56px;white-space:nowrap">income</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1412.41px;left:1961.68px;letter-spacing:49.7px;white-space:nowrap">.................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1412.41px;left:7551.22px;white-space:nowrap">$5,363,928</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1412.41px;left:9190.23px;white-space:nowrap">$10,341,077</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1614.89px;left:288px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1614.89px;left:581.44px;white-space:nowrap">realized </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1614.89px;left:1186.2px;white-space:nowrap">gain </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1614.89px;left:1533.16px;white-space:nowrap">(loss)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1614.89px;left:1961.68px;letter-spacing:49.7px;white-space:nowrap">.................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1614.89px;left:7640.2px;white-space:nowrap">1,070,040</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1614.89px;left:9261.64px;white-space:nowrap">(1,265,255)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1817.38px;left:288px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1817.38px;left:581.44px;white-space:nowrap">change </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1817.38px;left:1150.81px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1817.38px;left:1319.8px;white-space:nowrap">unrealized </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1817.38px;left:2102.53px;white-space:nowrap">appreciation </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1817.38px;left:3018.7px;white-space:nowrap">(depreciation)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1817.38px;left:4016.76px;letter-spacing:50.3px;white-space:nowrap">...........................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1817.38px;left:7640.2px;white-space:nowrap">4,068,261</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1817.38px;left:9172.66px;white-space:nowrap">(10,590,299)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2048.86px;left:576px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2048.86px;left:869.44px;white-space:nowrap">increase </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2048.86px;left:1518.66px;white-space:nowrap">(decrease) </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2048.86px;left:2327.88px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2048.86px;left:2496.86px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2048.86px;left:2763.73px;white-space:nowrap">assets </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2048.86px;left:3270.61px;white-space:nowrap">resulting </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2048.86px;left:3919.83px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2048.86px;left:4284.28px;white-space:nowrap">operations</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2048.86px;left:5044.31px;letter-spacing:51.22px;white-space:nowrap">................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2048.86px;left:7551.22px;white-space:nowrap">10,502,229</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2048.86px;left:9261.64px;white-space:nowrap">(1,514,477)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2280.35px;left:144px;white-space:nowrap">Distributions </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2280.35px;left:1068.77px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2280.35px;left:1246.66px;white-space:nowrap">shareholders</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2280.35px;left:2241.91px;letter-spacing:49.75px;white-space:nowrap">..............................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2280.35px;left:7533.64px;white-space:nowrap">(4,825,325)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2280.35px;left:9261.64px;white-space:nowrap">(9,683,318)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2564.29px;left:576px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2564.29px;left:869.44px;white-space:nowrap">increase </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2564.29px;left:1518.66px;white-space:nowrap">(decrease) </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2564.29px;left:2327.88px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2564.29px;left:2496.86px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2564.29px;left:2763.73px;white-space:nowrap">assets</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2564.29px;left:3269.46px;letter-spacing:49.99px;white-space:nowrap">...................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2564.29px;left:7640.2px;white-space:nowrap">5,676,904</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2564.29px;left:9184.53px;letter-spacing:-0.99px;white-space:nowrap">(11,197,795)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2766.77px;left:0px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2766.77px;left:293.44px;white-space:nowrap">assets:</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2969.26px;left:144px;white-space:nowrap">Beginning </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2969.26px;left:900.17px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2969.26px;left:1078.06px;white-space:nowrap">period</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2969.26px;left:1588.02px;letter-spacing:49.64px;white-space:nowrap">.....................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2969.26px;left:7462.23px;white-space:nowrap">204,094,133</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2969.26px;left:9190.23px;white-space:nowrap">215,291,928</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3200.74px;left:144px;white-space:nowrap">End </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3200.74px;left:473.14px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3200.74px;left:651.03px;white-space:nowrap">period</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3200.74px;left:1120.96px;letter-spacing:49.58px;white-space:nowrap">..........................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3200.74px;left:7373.25px;white-space:nowrap">$209,771,037</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3200.74px;left:9101.25px;white-space:nowrap">$204,094,133</div></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">Cash </div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:-30.85px;left:2225.62px;white-space:nowrap">Flows</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">six </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:333.68px;left:830.3px;white-space:nowrap">months </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:333.68px;left:1470.59px;white-space:nowrap">ended </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:333.68px;left:2021.13px;white-space:nowrap">February </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:333.68px;left:2791.41px;white-space:nowrap">28, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:333.68px;left:3091.64px;white-space:nowrap">2021 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:333.68px;left:3542.08px;white-space:nowrap">(unaudited)</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:1196px">

				<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">Semiannual </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:729.38px;white-space:nowrap">Report</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:1279.06px;white-space:nowrap">The </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:1541.64px;white-space:nowrap">accompanying </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:2424.22px;white-space:nowrap">notes </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:2781.72px;white-space:nowrap">are </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:3007.81px;white-space:nowrap">an </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:3190.23px;white-space:nowrap">integral </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:3657.03px;white-space:nowrap">part </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:3919.61px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:4065.55px;white-space:nowrap">these </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:4423.05px;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:4940.94px;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">22</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:9457.66px;white-space:nowrap">Franklin </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:245.02px;left:8923.98px;white-space:nowrap">Universal </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:245.02px;left:9688.83px;letter-spacing:-1.77px;white-space:nowrap">Trust</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:554.96px;left:0px;white-space:nowrap">Cash </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:554.96px;left:417.97px;text-rendering:optimizeLegibility;white-space:nowrap">flow </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:554.96px;left:746.95px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:554.96px;left:1111.41px;white-space:nowrap">operating </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:554.96px;left:1823.05px;white-space:nowrap">activities:</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:786.44px;left:144px;white-space:nowrap">Dividends, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:786.44px;left:935.48px;white-space:nowrap">interest </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:786.44px;left:1504.63px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:786.44px;left:1816.03px;white-space:nowrap">other </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:786.44px;left:2225.17px;white-space:nowrap">income </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:786.44px;left:2785.41px;white-space:nowrap">received</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:786.44px;left:3456.29px;letter-spacing:49.71px;white-space:nowrap">.....................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:786.44px;left:9279.22px;white-space:nowrap">$</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:786.44px;left:9368.2px;white-space:nowrap">7,666,650</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:988.92px;left:144px;white-space:nowrap">Operating </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:988.92px;left:891.11px;white-space:nowrap">expenses </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:988.92px;left:1620.48px;white-space:nowrap">paid</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:988.92px;left:1961.68px;letter-spacing:49.54px;white-space:nowrap">.....................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:988.92px;left:9261.64px;white-space:nowrap">(1,372,468)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1191.41px;left:144px;white-space:nowrap">Interest </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1191.41px;left:722.05px;white-space:nowrap">expense </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1191.41px;left:1371.42px;white-space:nowrap">paid</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1191.41px;left:1681.44px;letter-spacing:49.51px;white-space:nowrap">........................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1191.41px;left:9261.64px;white-space:nowrap">(1,270,749)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1393.89px;left:144px;white-space:nowrap">Cash </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1393.89px;left:561.97px;white-space:nowrap">collateral </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1393.89px;left:1246.73px;white-space:nowrap">received </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1393.89px;left:1895.95px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1393.89px;left:2127.13px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1393.89px;left:2847.36px;white-space:nowrap">loaned</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1393.89px;left:3362.87px;letter-spacing:49.7px;white-space:nowrap">......................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1393.89px;left:9679.61px;white-space:nowrap">1,027</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1596.38px;left:144px;white-space:nowrap">Realized </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1596.38px;left:811.03px;white-space:nowrap">gain </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1596.38px;left:1157.98px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1596.38px;left:1380.41px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1596.38px;left:1914.08px;white-space:nowrap">currency </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1596.38px;left:2572.05px;white-space:nowrap">transactions</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1596.38px;left:3456.29px;letter-spacing:49.71px;white-space:nowrap">.....................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1596.38px;left:9813.05px;white-space:nowrap">535</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1798.86px;left:144px;white-space:nowrap">Purchases </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1798.86px;left:944.39px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1798.86px;left:1122.28px;white-space:nowrap">long-term </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1798.86px;left:1842.52px;white-space:nowrap">investments</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1798.86px;left:2708.98px;letter-spacing:49.61px;white-space:nowrap">.............................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1798.86px;left:9172.66px;white-space:nowrap">(47,783,546)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2001.35px;left:144px;white-space:nowrap">Sales </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2001.35px;left:588.69px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2001.35px;left:900.09px;white-space:nowrap">maturities </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2001.35px;left:1638.06px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2001.35px;left:1815.95px;white-space:nowrap">long-term </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2001.35px;left:2536.19px;white-space:nowrap">investments</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2001.35px;left:3456.29px;letter-spacing:49.71px;white-space:nowrap">.....................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2001.35px;left:9279.22px;white-space:nowrap">44,889,240</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2203.83px;left:144px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2203.83px;left:437.44px;white-space:nowrap">sales </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2203.83px;left:855.41px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2203.83px;left:1033.3px;white-space:nowrap">short-term </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2203.83px;left:1806.73px;white-space:nowrap">investments</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2203.83px;left:2708.98px;letter-spacing:49.61px;white-space:nowrap">.............................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2203.83px;left:9368.2px;white-space:nowrap">2,652,513</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2435.32px;left:432px;white-space:nowrap">Cash </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2435.32px;left:849.97px;white-space:nowrap">provided </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2435.32px;left:1508.17px;white-space:nowrap">- </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2435.32px;left:1605.91px;white-space:nowrap">operating </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2435.32px;left:2317.55px;white-space:nowrap">activities</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2435.32px;left:2989.22px;letter-spacing:49.65px;white-space:nowrap">..........................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2435.32px;left:9368.2px;white-space:nowrap">4,783,202</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2666.8px;left:0px;white-space:nowrap">Cash </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2666.8px;left:417.97px;text-rendering:optimizeLegibility;white-space:nowrap">flow </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2666.8px;left:746.95px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2666.8px;left:1111.41px;text-rendering:optimizeLegibility;white-space:nowrap">financing </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2666.8px;left:1796.33px;white-space:nowrap">activities:</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2869.28px;left:144px;white-space:nowrap">Cash </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2869.28px;left:561.97px;white-space:nowrap">distributions </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2869.28px;left:1460.17px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2869.28px;left:1638.06px;white-space:nowrap">shareholders</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2869.28px;left:2615.57px;letter-spacing:49.6px;white-space:nowrap">..............................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2869.28px;left:9261.64px;white-space:nowrap">(4,825,325)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3100.77px;left:432px;white-space:nowrap">Cash </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3100.77px;left:849.97px;white-space:nowrap">used </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3100.77px;left:1241.38px;white-space:nowrap">- </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3100.77px;left:1339.11px;text-rendering:optimizeLegibility;white-space:nowrap">financing </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3100.77px;left:2024.03px;white-space:nowrap">activities</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3100.77px;left:2708.98px;letter-spacing:49.61px;white-space:nowrap">.............................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3100.77px;left:9261.64px;white-space:nowrap">(4,825,325)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3332.25px;left:0px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3332.25px;left:293.44px;white-space:nowrap">increase </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3332.25px;left:942.66px;white-space:nowrap">(decrease) </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3332.25px;left:1751.88px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3332.25px;left:1920.86px;white-space:nowrap">cash</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3332.25px;left:2335.33px;letter-spacing:49.57px;white-space:nowrap">.................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3332.25px;left:9484.06px;white-space:nowrap">(42,123)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3534.74px;left:0px;white-space:nowrap">Cash </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3534.74px;left:417.97px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3534.74px;left:595.86px;white-space:nowrap">beginning </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3534.74px;left:1334.3px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3534.74px;left:1512.19px;white-space:nowrap">period</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3534.74px;left:1961.68px;letter-spacing:49.54px;white-space:nowrap">.....................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3534.74px;left:9368.2px;white-space:nowrap">1,033,523</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3766.22px;left:0px;white-space:nowrap">Cash </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3766.22px;left:417.97px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3766.22px;left:595.86px;white-space:nowrap">end </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3766.22px;left:907.27px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3766.22px;left:1085.16px;white-space:nowrap">period</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3766.22px;left:1588.02px;letter-spacing:49.51px;white-space:nowrap">.........................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3766.22px;left:9412.66px;white-space:nowrap">$991,400</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4301.62px;left:0px;white-space:nowrap">Reconciliation </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4301.62px;left:1137.97px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4301.62px;left:1333.44px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4301.62px;left:1635.7px;white-space:nowrap">Increase </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4301.62px;left:2329.53px;white-space:nowrap">(Decrease) </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4301.62px;left:3192.27px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4301.62px;left:3378.91px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4301.62px;left:3675.23px;white-space:nowrap">Assets </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4301.62px;left:4244.45px;white-space:nowrap">resulting </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4301.62px;left:4964.53px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4301.62px;left:5364.53px;white-space:nowrap">Operating </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4301.62px;left:6158.67px;white-space:nowrap">Activities </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4301.62px;left:6914.53px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4301.62px;left:7110px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4301.62px;left:7412.27px;white-space:nowrap">Cash </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4493.62px;left:0px;white-space:nowrap">Provided </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4493.62px;left:729.06px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4493.62px;left:960.23px;white-space:nowrap">Operating </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4493.62px;left:1754.38px;white-space:nowrap">Activities</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4725.1px;left:0px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4725.1px;left:231.17px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4725.1px;left:498.05px;white-space:nowrap">period </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4725.1px;left:987.27px;white-space:nowrap">ended </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4725.1px;left:1476.64px;white-space:nowrap">February </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4725.1px;left:2161.33px;white-space:nowrap">28, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4725.1px;left:2428.2px;white-space:nowrap">2021</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5015.04px;left:0px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5015.04px;left:293.44px;white-space:nowrap">increase </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5015.04px;left:942.66px;white-space:nowrap">(decrease) </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5015.04px;left:1751.88px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5015.04px;left:1920.86px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5015.04px;left:2187.73px;white-space:nowrap">assets </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5015.04px;left:2694.61px;white-space:nowrap">resulting </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5015.04px;left:3343.83px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5015.04px;left:3708.28px;white-space:nowrap">operating </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5015.04px;left:4419.92px;white-space:nowrap">activities</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5015.04px;left:5044.31px;letter-spacing:50.07px;white-space:nowrap">....................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5015.04px;left:9190.23px;white-space:nowrap">$</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5015.04px;left:9279.22px;white-space:nowrap">10,502,229</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5217.53px;left:144px;white-space:nowrap">Adjustments </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5217.53px;left:1068.84px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5217.53px;left:1246.73px;white-space:nowrap">reconcile </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5217.53px;left:1931.5px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5217.53px;left:2198.38px;white-space:nowrap">increase </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5217.53px;left:2847.59px;white-space:nowrap">(decrease) </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5217.53px;left:3656.81px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5217.53px;left:3825.8px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5217.53px;left:4092.67px;white-space:nowrap">assets </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5217.53px;left:4599.55px;white-space:nowrap">resulting </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5217.53px;left:5248.77px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5217.53px;left:5613.22px;white-space:nowrap">operating </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5217.53px;left:6324.86px;white-space:nowrap">activities </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5217.53px;left:6982.83px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5217.53px;left:7160.72px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5217.53px;left:7427.59px;white-space:nowrap">cash </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5217.53px;left:7810.02px;white-space:nowrap">provided </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5409.53px;left:288px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5409.53px;left:501.44px;white-space:nowrap">operating </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5409.53px;left:1213.08px;white-space:nowrap">activities:</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5612.01px;left:432px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5612.01px;left:725.44px;white-space:nowrap">amortization </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5612.01px;left:1641.38px;white-space:nowrap">income</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5612.01px;left:2241.91px;letter-spacing:49.56px;white-space:nowrap">..................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5612.01px;left:9395.08px;white-space:nowrap">(420,325)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5814.5px;left:432px;white-space:nowrap">Amortization </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5814.5px;left:1365.67px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5814.5px;left:1543.56px;white-space:nowrap">Note </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5814.5px;left:1925.98px;white-space:nowrap">iss</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5814.5px;left:2121.53px;white-space:nowrap">uance </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5814.5px;left:2601.92px;white-space:nowrap">costs</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5814.5px;left:2989.22px;letter-spacing:49.65px;white-space:nowrap">..........................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5814.5px;left:9602.5px;letter-spacing:-1.98px;white-space:nowrap">11,300</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6016.98px;left:432px;white-space:nowrap">Interest </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6016.98px;left:1010.05px;white-space:nowrap">received </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6016.98px;left:1659.27px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6016.98px;left:1828.25px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6016.98px;left:2095.13px;white-space:nowrap">form </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6016.98px;left:2459.58px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6016.98px;left:2637.47px;white-space:nowrap">securities</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6016.98px;left:3362.87px;letter-spacing:49.7px;white-space:nowrap">......................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6016.98px;left:9484.06px;white-space:nowrap">(99,877)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6219.46px;left:432px;white-space:nowrap">Decrease </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6219.46px;left:1161.22px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6219.46px;left:1330.2px;white-space:nowrap">dividends </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6219.46px;left:2050.67px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6219.46px;left:2362.08px;white-space:nowrap">interest </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6219.46px;left:2931.22px;white-space:nowrap">receivable </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6219.46px;left:3704.97px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6219.46px;left:4016.38px;white-space:nowrap">other </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6219.46px;left:4425.52px;white-space:nowrap">assets</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6219.46px;left:4950.9px;letter-spacing:50.04px;white-space:nowrap">.....................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6219.46px;left:9501.64px;white-space:nowrap">264,909</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6421.95px;left:432px;white-space:nowrap">Decrease </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6421.95px;left:1161.22px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6421.95px;left:1330.2px;white-space:nowrap">interest </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6421.95px;left:1899.34px;white-space:nowrap">payable</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6421.95px;left:2522.15px;letter-spacing:49.59px;white-space:nowrap">...............................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6421.95px;left:9484.06px;white-space:nowrap">(17,406)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6624.43px;left:432px;white-space:nowrap">Increase </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6624.43px;left:1090.13px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6624.43px;left:1259.11px;white-space:nowrap">payable </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6624.43px;left:1864.03px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6624.43px;left:2041.92px;text-rendering:optimizeLegibility;white-space:nowrap">affiliates, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6624.43px;left:2717.78px;white-space:nowrap">accrued </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6624.43px;left:3331.45px;white-space:nowrap">expenses, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6624.43px;left:4105.28px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6624.43px;left:4416.69px;white-space:nowrap">other </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6624.43px;left:4825.83px;white-space:nowrap">liabilities</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6624.43px;left:5511.37px;letter-spacing:50.25px;white-space:nowrap">...............................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6624.43px;left:9590.63px;white-space:nowrap">20,781</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6826.92px;left:432px;white-space:nowrap">Increase </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6826.92px;left:1090.13px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6826.92px;left:1259.11px;white-space:nowrap">payable </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6826.92px;left:1864.03px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6826.92px;left:2095.2px;white-space:nowrap">investments </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6826.92px;left:2993.33px;white-space:nowrap">purchased</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6826.92px;left:3829.94px;letter-spacing:49.77px;white-space:nowrap">.................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6826.92px;left:9368.2px;white-space:nowrap">3,290,250</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7029.4px;left:432px;white-space:nowrap">Decrease </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7029.4px;left:1161.22px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7029.4px;left:1330.2px;white-space:nowrap">receivable </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7029.4px;left:2103.95px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7029.4px;left:2335.13px;white-space:nowrap">investments </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7029.4px;left:3233.25px;white-space:nowrap">sold</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7029.4px;left:3549.7px;letter-spacing:49.73px;white-space:nowrap">....................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7029.4px;left:9501.64px;white-space:nowrap">530,750</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7231.89px;left:432px;white-space:nowrap">Increase </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7231.89px;left:1090.13px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7231.89px;left:1259.11px;white-space:nowrap">collateral </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7231.89px;left:1943.88px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7231.89px;left:2175.05px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7231.89px;left:2895.28px;white-space:nowrap">loaned</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7231.89px;left:3456.29px;letter-spacing:49.71px;white-space:nowrap">.....................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7231.89px;left:9679.61px;white-space:nowrap">1,027</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7434.37px;left:432px;white-space:nowrap">Increase </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7434.37px;left:1090.13px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7434.37px;left:1259.11px;white-space:nowrap">cost </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7434.37px;left:1597px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7434.37px;left:1774.89px;white-space:nowrap">investments</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7434.37px;left:2708.98px;letter-spacing:49.61px;white-space:nowrap">.............................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7434.37px;left:9261.64px;white-space:nowrap">(5,232,175)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7636.86px;left:432px;white-space:nowrap">Decrease </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7636.86px;left:1161.22px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7636.86px;left:1330.2px;white-space:nowrap">unrealized </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7636.86px;left:2112.94px;white-space:nowrap">depreciation </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7636.86px;left:3029.11px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7636.86px;left:3251.53px;white-space:nowrap">investments.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7636.86px;left:4203.59px;letter-spacing:49.85px;white-space:nowrap">.............................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7636.86px;left:9261.64px;white-space:nowrap">(4,068,261)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7868.34px;left:0px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7868.34px;left:293.44px;white-space:nowrap">cash </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7868.34px;left:675.86px;white-space:nowrap">provided </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7868.34px;left:1334.06px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7868.34px;left:1547.5px;white-space:nowrap">operating </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7868.34px;left:2259.14px;white-space:nowrap">activities</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7868.34px;left:2895.81px;letter-spacing:49.64px;white-space:nowrap">...........................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7868.34px;left:9279.22px;white-space:nowrap">$4,783,202</div></div>
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			<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 style="font-family:Arial, Helvetica, sans-serif;font-size:300px;position:absolute;top:-48.16px;left:4020.64px;white-space:nowrap">(unaudited)</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:180px;position:absolute;top:344px;left:0px;white-space:nowrap">Franklin </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:690.21px;white-space:nowrap">Universal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:1487.2px;letter-spacing:-0.39px;white-space:nowrap">Trust&#160;(Fund) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:2520.7px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:2700.7px;white-space:nowrap">registered&#160;under </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:4061.51px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:0px;white-space:nowrap">Investment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:930.41px;white-space:nowrap">Company </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:1740.85px;white-space:nowrap">Act </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:2050.93px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:2251.05px;white-space:nowrap">1940 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:2701.49px;white-space:nowrap">(1940 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:3201.94px;white-space:nowrap">Act) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:3571.96px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:3812.08px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:3962.2px;white-space:nowrap">closed-</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:844px;left:0px;white-space:nowrap">end </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:844px;left:350.33px;white-space:nowrap">management </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:844px;left:1450.99px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:844px;left:2371.38px;white-space:nowrap">company </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:844px;left:3151.76px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:844px;left:3502.09px;white-space:nowrap">applies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:844px;left:4122.51px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1094px;left:0px;white-space:nowrap">specialized </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1094px;left:940.52px;white-space:nowrap">accounting </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1094px;left:1861.17px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1094px;left:2211.5px;white-space:nowrap">reporting </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1094px;left:2971.93px;white-space:nowrap">guidance </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1094px;left:3752.58px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1094px;left:3942.69px;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 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1774px;left:2430.97px;white-space:nowrap">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:3858px;left:4349.18px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4108px;left:0px;letter-spacing:-2.23px;white-space:nowrap">(NAV) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4108px;left:526.64px;white-space:nowrap">per </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4108px;left:836.81px;white-space:nowrap">share </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4108px;left:1337.08px;white-space:nowrap">each&#160;business </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4108px;left:2537.84px;white-space:nowrap">day&#160;as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4108px;left:3118.18px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4108px;left:3318.31px;white-space:nowrap">4 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4108px;left:3468.43px;white-space:nowrap">p.m. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4108px;left:3868.51px;white-space:nowrap">Eastern </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4358px;left:0px;white-space:nowrap">time </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4358px;left:390.06px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4358px;left:600.12px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4358px;left:900.35px;white-space:nowrap">regularly </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4358px;left:1640.65px;white-space:nowrap">scheduled </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4358px;left:2511.3px;white-space:nowrap">close </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4358px;left:2981.51px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4358px;left:3181.64px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4358px;left:3481.88px;white-space:nowrap">New </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4358px;left:3888.72px;letter-spacing:-3.3px;white-space:nowrap">York </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4358px;left:4292.31px;white-space:nowrap">Stock </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4608px;left:0px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4608px;left:850.61px;white-space:nowrap">(NYSE), </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4608px;left:1560.67px;white-space:nowrap">whichever </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4608px;left:2421.04px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4608px;left:2601.04px;letter-spacing:-1.1px;white-space:nowrap">earlier. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4608px;left:3191.31px;white-space:nowrap">&#160;Senior </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4608px;left:3811.64px;white-space:nowrap">Fixed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4858px;left:0px;white-space:nowrap">Rate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4858px;left:430.22px;white-space:nowrap">Notes </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4858px;left:950.45px;white-space:nowrap">issued </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4858px;left:1520.77px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4858px;left:1760.89px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4858px;left:2061.12px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4858px;left:2521.41px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4858px;left:2831.57px;white-space:nowrap">carried </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4858px;left:3431.78px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4858px;left:3631.9px;white-space:nowrap">cost. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4858px;left:4062.04px;white-space:nowrap">Under </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5108px;left:0px;white-space:nowrap">compliance </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5108px;left:960.47px;white-space:nowrap">policies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5108px;left:1610.77px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5108px;left:1961.1px;white-space:nowrap">procedures </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5108px;left:2911.64px;white-space:nowrap">approved </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5108px;left:3712.24px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5108px;left:3952.35px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5108px;left:4252.59px;white-space:nowrap">Fund&#39;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5358px;left:0px;white-space:nowrap">Board </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5358px;left:530.33px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5358px;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:5358px;left:1470.76px;white-space:nowrap">(the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5358px;left:1830.94px;white-space:nowrap">Board), </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5358px;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:5358px;left:3356.1px;white-space:nowrap">administrator </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5358px;left:4446.47px;white-space:nowrap">has </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5608px;left:0px;white-space:nowrap">responsibility </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5608px;left:1090.46px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5608px;left:1350.53px;white-space:nowrap">oversight </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5608px;left:2130.91px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5608px;left:2331.04px;white-space:nowrap">valuation, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5608px;left:3151.58px;white-space:nowrap">including </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5608px;left:3912.1px;white-space:nowrap">leading </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5858px;left:0px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5858px;left:300.23px;white-space:nowrap">cross-functional </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5858px;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:5858px;left:2398.01px;white-space:nowrap">Committee </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5858px;left:3318.22px;white-space:nowrap">(VC). </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5858px;left:3784.92px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5858px;left:4145.1px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6108px;left:0px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6108px;left:390.06px;white-space:nowrap">utilize </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6108px;left:900.26px;white-space:nowrap">independent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6108px;left:1941.24px;white-space:nowrap">pricing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6108px;left:2521.49px;white-space:nowrap">services, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6108px;left:3281.66px;white-space:nowrap">quotations </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6108px;left:4162.32px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6358px;left:0px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6358px;left:810.26px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6358px;left:1160.6px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6358px;left:1871.02px;white-space:nowrap">instrument </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6358px;left:2761.35px;white-space:nowrap">dealers, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6358px;left:3451.73px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6358px;left:3802.06px;white-space:nowrap">other </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6358px;left:4262.34px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6608px;left:0px;white-space:nowrap">sources </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6608px;left:680.27px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6608px;left:880.4px;white-space:nowrap">determine </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6608px;left:1730.83px;white-space:nowrap">fair </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6608px;left:2030.89px;white-space:nowrap">value.&#160;</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7038px;left:0px;white-space:nowrap">Equity </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7038px;left:550.28px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7038px;left:1360.55px;white-space:nowrap">listed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7038px;left:1830.76px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7038px;left:2080.99px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7038px;left:2331.21px;white-space:nowrap">exchange </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7038px;left:3161.87px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7038px;left:3371.92px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7038px;left:3622.15px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7038px;left:3922.38px;white-space:nowrap">NASDAQ </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7288px;left:0px;white-space:nowrap">National </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7288px;left:710.42px;white-space:nowrap">Market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7288px;left:1310.54px;white-space:nowrap">System </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7288px;left:1960.66px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7288px;left:2270.83px;white-space:nowrap">valued </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7288px;left:2851.26px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7288px;left:3051.39px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7288px;left:3351.62px;white-space:nowrap">last </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7288px;left:3681.74px;white-space:nowrap">quoted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7288px;left:4282.29px;white-space:nowrap">sale </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7538px;left:0px;white-space:nowrap">price </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7538px;left:440.16px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7538px;left:650.21px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7538px;left:950.45px;text-rendering:optimizeLegibility;white-space:nowrap">official </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7538px;left:1510.66px;white-space:nowrap">closing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7538px;left:2120.98px;white-space:nowrap">price&#160;of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7538px;left:2761.26px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7538px;left:3061.49px;letter-spacing:-2.67px;white-space:nowrap">day, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7538px;left:3438.37px;letter-spacing:-0.95px;white-space:nowrap">respectively. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7788px;left:0px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7788px;left:660.32px;white-space:nowrap">equity </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7788px;left:1190.65px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7788px;left:2000.92px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7788px;left:2311.08px;white-space:nowrap">valued </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7788px;left:2891.51px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7788px;left:3131.63px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7788px;left:3331.76px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7788px;left:3631.99px;white-space:nowrap">close </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7788px;left:4102.21px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7788px;left:4302.33px;white-space:nowrap">trading </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8038px;left:0px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8038px;left:250.22px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8038px;left:550.46px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8038px;left:1150.84px;white-space:nowrap">stock </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8038px;left:1620.97px;white-space:nowrap">exchange </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8038px;left:2451.62px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8038px;left:2701.85px;white-space:nowrap">which </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8038px;left:3212.05px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8038px;left:3512.29px;white-space:nowrap">security </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8038px;left:4182.45px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8288px;left:0px;white-space:nowrap">primarily </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8288px;left:730.02px;white-space:nowrap">traded, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8288px;left:1340.42px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8288px;left:1550.48px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8288px;left:1790.6px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8288px;left:1990.72px;white-space:nowrap">4 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8288px;left:2140.84px;white-space:nowrap">p.m. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8288px;left:2540.92px;white-space:nowrap">Eastern </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8288px;left:3211.26px;white-space:nowrap">time. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8288px;left:3648.08px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8288px;left:4008.25px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8288px;left:4488.57px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8538px;left:0px;white-space:nowrap">then </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8538px;left:400.34px;white-space:nowrap">converted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8538px;left:1240.84px;white-space:nowrap">into </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8538px;left:1581.06px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8538px;left:1811.07px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8538px;left:2211.15px;white-space:nowrap">dollar </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8538px;left:2701.41px;white-space:nowrap">equivalent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8538px;left:3572.05px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8538px;left:3772.18px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8538px;left:4072.41px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8788px;left:0px;white-space:nowrap">exchange </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8788px;left:830.65px;white-space:nowrap">rate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8788px;left:1190.83px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8788px;left:1380.94px;letter-spacing:-0.46px;white-space:nowrap">effect </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8788px;left:1867.94px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8788px;left:2068.07px;white-space:nowrap">4 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8788px;left:2218.18px;white-space:nowrap">p.m. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8788px;left:2618.26px;white-space:nowrap">Eastern </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8788px;left:3288.6px;white-space:nowrap">time </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8788px;left:3678.66px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8788px;left:3928.89px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8788px;left:4229.12px;white-space:nowrap">day </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9038px;left:0px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9038px;left:350.24px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9038px;left:650.48px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9038px;left:1130.8px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9038px;left:1330.93px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9038px;left:1631.16px;white-space:nowrap">security </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9038px;left:2301.33px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9038px;left:2481.33px;white-space:nowrap">determined. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9038px;left:3481.88px;white-space:nowrap">Over-the-counter </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9288px;left:0px;white-space:nowrap">(OTC) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9288px;left:549.84px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9288px;left:1360.11px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9288px;left:1670.27px;white-space:nowrap">valued </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9288px;left:2250.7px;white-space:nowrap">within </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9288px;left:2760.91px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9288px;left:3061.14px;white-space:nowrap">range </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9288px;left:3571.52px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9288px;left:3771.65px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9288px;left:4071.88px;white-space:nowrap">most </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9538px;left:0px;white-space:nowrap">recent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9538px;left:550.28px;white-space:nowrap">quoted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9538px;left:1150.84px;white-space:nowrap">bid </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9538px;left:1441.05px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9538px;left:1791.39px;white-space:nowrap">ask </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9538px;left:2121.5px;white-space:nowrap">prices. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9538px;left:2701.67px;white-space:nowrap">Securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9538px;left:3541.99px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9538px;left:3892.24px;white-space:nowrap">trade </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9788px;left:0px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9788px;left:190.11px;white-space:nowrap">multiple </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9788px;left:860.36px;white-space:nowrap">markets </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9788px;left:1550.48px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9788px;left:1760.54px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9788px;left:2010.76px;white-space:nowrap">multiple </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9788px;left:2681.02px;white-space:nowrap">exchanges </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9788px;left:3601.67px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9788px;left:3911.84px;white-space:nowrap">valued </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10038px;left:0px;white-space:nowrap">according </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10038px;left:830.48px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10038px;left:1030.61px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10038px;left:1330.84px;white-space:nowrap">broadest </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10038px;left:2081.34px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10038px;left:2431.67px;white-space:nowrap">most </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10038px;left:2871.74px;white-space:nowrap">representative </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10038px;left:4062.39px;white-space:nowrap">market. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10288px;left:0px;white-space:nowrap">Certain </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10288px;left:630.26px;white-space:nowrap">equity </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10288px;left:1160.6px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10288px;left:1970.86px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10288px;left:2281.03px;white-space:nowrap">valued </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10288px;left:2861.46px;white-space:nowrap">based </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10288px;left:3401.89px;white-space:nowrap">upon </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10288px;left:3852.33px;white-space:nowrap">fundamental </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10538px;left:0px;white-space:nowrap">characteristics </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10538px;left:1200.32px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10538px;left:1410.38px;white-space:nowrap">relationships </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10538px;left:2470.96px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10538px;left:2671.08px;white-space:nowrap">similar </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10538px;left:3241.05px;white-space:nowrap">securities.&#160;</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10968px;left:0px;white-space:nowrap">Debt </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10968px;left:430.22px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10968px;left:1240.49px;white-space:nowrap">generally </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10968px;left:2020.96px;white-space:nowrap">trade </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10968px;left:2481.24px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10968px;left:2671.35px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10968px;left:2971.58px;white-space:nowrap">OTC </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10968px;left:3401.54px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10968px;left:4001.66px;white-space:nowrap">rather </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11218px;left:0px;white-space:nowrap">than </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11218px;left:400.34px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11218px;left:650.57px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11218px;left:800.68px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11218px;left:1610.95px;white-space:nowrap">exchange. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11218px;left:2488.36px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11218px;left:2848.54px;white-space:nowrap">Fund&#39;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11218px;left:3433.18px;white-space:nowrap">pricing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11218px;left:4013.44px;white-space:nowrap">services </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11468px;left:0px;white-space:nowrap">use </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11468px;left:340.22px;white-space:nowrap">multiple </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11468px;left:1010.48px;white-space:nowrap">valuation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11468px;left:1781.02px;white-space:nowrap">techniques </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11468px;left:2701.67px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11468px;left:2901.8px;white-space:nowrap">determine </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11468px;left:3752.23px;white-space:nowrap">fair </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11468px;left:4052.29px;white-space:nowrap">value. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11468px;left:4582.62px;white-space:nowrap">In </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11718px;left:0px;white-space:nowrap">instances </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11718px;left:810.44px;white-space:nowrap">where </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11718px;left:1350.7px;text-rendering:optimizeLegibility;white-space:nowrap">sufficient </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11718px;left:2111.04px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11718px;left:2711.16px;white-space:nowrap">activity </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11718px;left:3311.28px;white-space:nowrap">exists, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11718px;left:3871.41px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11718px;left:4171.64px;white-space:nowrap">pricing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:5220px;white-space:nowrap">services </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:5930.16px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:6320.21px;white-space:nowrap">utilize </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:6830.42px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:6980.54px;white-space:nowrap">market-based </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:8131.03px;white-space:nowrap">approach </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:8931.62px;white-space:nowrap">through </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:5220px;white-space:nowrap">which </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:5730.21px;white-space:nowrap">quotes </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:6320.65px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:6730.66px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:7330.78px;white-space:nowrap">makers </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:7970.89px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:8281.05px;white-space:nowrap">used </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:8721.39px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:8921.51px;white-space:nowrap">determine </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:9771.94px;white-space:nowrap">fair </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:5220px;white-space:nowrap">value. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:5750.33px;white-space:nowrap">In </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:5950.46px;white-space:nowrap">instances </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:6760.9px;white-space:nowrap">where </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:7301.16px;text-rendering:optimizeLegibility;white-space:nowrap">sufficient </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:8061.5px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:8661.62px;white-space:nowrap">activity </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:9261.74px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:9651.8px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:5220px;white-space:nowrap">exist </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:5640.12px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:5850.18px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:6030.18px;white-space:nowrap">limited, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:6650.33px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:6950.57px;white-space:nowrap">pricing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:7530.82px;white-space:nowrap">services </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:8240.98px;white-space:nowrap">also </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:8621.19px;white-space:nowrap">utilize </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:9131.4px;white-space:nowrap">proprietary </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:5220px;white-space:nowrap">valuation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:5990.54px;white-space:nowrap">models </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:6620.8px;white-space:nowrap">which </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:7131.01px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:7521.06px;white-space:nowrap">consider </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:8251.44px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:8851.55px;white-space:nowrap">characteristics </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:5220px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:5650.22px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:5890.34px;white-space:nowrap">benchmark </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:6830.77px;white-space:nowrap">yield </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:7250.98px;white-space:nowrap">curves, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:7881.15px;white-space:nowrap">credit </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:8371.32px;white-space:nowrap">spreads, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:9111.71px;white-space:nowrap">estimated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:5220px;white-space:nowrap">default </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:5810.45px;white-space:nowrap">rates, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:6310.63px;white-space:nowrap">anticipated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:7231.29px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:7831.41px;white-space:nowrap">interest </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:8471.69px;white-space:nowrap">rate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:8831.87px;letter-spacing:-1.11px;white-space:nowrap">volatility, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:5220px;white-space:nowrap">coupon </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:5860.55px;white-space:nowrap">rates, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:6360.73px;white-space:nowrap">anticipated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:7281.39px;white-space:nowrap">timing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:7811.54px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:8011.67px;white-space:nowrap">principal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:8732.02px;white-space:nowrap">repayments, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:5220px;white-space:nowrap">underlying </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:6100.58px;white-space:nowrap">collateral, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:6920.95px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:7271.28px;white-space:nowrap">other </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:7731.56px;white-space:nowrap">unique </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:8322.1px;white-space:nowrap">security </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:8992.27px;white-space:nowrap">features </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:9692.67px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:5220px;white-space:nowrap">order </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:5690.21px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:5890.34px;white-space:nowrap">estimate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:6620.63px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:6920.86px;white-space:nowrap">relevant </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:7611.24px;white-space:nowrap">cash </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:8041.46px;text-rendering:optimizeLegibility;white-space:nowrap">flows, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:8551.58px;white-space:nowrap">which </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:9061.79px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:9371.95px;white-space:nowrap">then </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2478.64px;left:5220px;white-space:nowrap">discounted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2478.64px;left:6140.65px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2478.64px;left:6340.78px;white-space:nowrap">calculate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2478.64px;left:7101.21px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2478.64px;left:7401.45px;white-space:nowrap">fair </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2478.64px;left:7701.5px;white-space:nowrap">value.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:5220px;white-space:nowrap">Investments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:6240.41px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:6430.52px;white-space:nowrap">open-end </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:7241.22px;white-space:nowrap">mutual </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:7831.49px;white-space:nowrap">funds </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:8321.84px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:8632px;white-space:nowrap">valued </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:9212.43px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:9412.56px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:5220px;white-space:nowrap">closing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;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:3588.64px;left:5220px;white-space:nowrap">Investments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3588.64px;left:6240.41px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3588.64px;left:6430.52px;white-space:nowrap">repurchase </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3588.64px;left:7381.05px;white-space:nowrap">agreements </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3588.64px;left:8381.6px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3588.64px;left:8691.77px;white-space:nowrap">valued </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3588.64px;left:9272.2px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3588.64px;left:9472.32px;white-space:nowrap">cost, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3838.64px;left:5220px;white-space:nowrap">which </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3838.64px;left:5730.21px;white-space:nowrap">approximates </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3838.64px;left:6860.74px;white-space:nowrap">fair </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3838.64px;left:7160.8px;white-space:nowrap">value.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4268.64px;left:5220px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4268.64px;left:5580.18px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4268.64px;left:6040.46px;white-space:nowrap">has </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4268.64px;left:6380.68px;white-space:nowrap">procedures </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4268.64px;left:7331.22px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4268.64px;left:7531.35px;white-space:nowrap">determine </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4268.64px;left:8381.78px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4268.64px;left:8682.01px;white-space:nowrap">fair </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4268.64px;left:8982.07px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4268.64px;left:9462.39px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4518.64px;left:5220px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4518.64px;left:5930.42px;white-space:nowrap">instruments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4518.64px;left:6910.75px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4518.64px;left:7170.82px;white-space:nowrap">which </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4518.64px;left:7681.03px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4518.64px;left:8281.14px;white-space:nowrap">prices </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4518.64px;left:8811.3px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4518.64px;left:9121.46px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4518.64px;left:9421.7px;white-space:nowrap">reliable </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4768.64px;left:5220px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4768.64px;left:5430.06px;white-space:nowrap">readily </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4768.64px;left:6010.31px;white-space:nowrap">available. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4768.64px;left:6820.84px;white-space:nowrap">Under </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4768.64px;left:7361.1px;white-space:nowrap">these </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4768.64px;left:7851.45px;white-space:nowrap">procedures, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4768.64px;left:8851.99px;white-space:nowrap">the&#160;Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5018.64px;left:5220px;white-space:nowrap">primarily </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5018.64px;left:5950.02px;white-space:nowrap">employs </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5018.64px;left:6670.28px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5018.64px;left:6820.4px;white-space:nowrap">market-based </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5018.64px;left:7970.89px;white-space:nowrap">approach </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5018.64px;left:8771.48px;white-space:nowrap">which </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5018.64px;left:9281.69px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5268.64px;left:5220px;white-space:nowrap">use </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5268.64px;left:5560.22px;white-space:nowrap">related </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5268.64px;left:6160.61px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5268.64px;left:6370.66px;white-space:nowrap">comparable </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5268.64px;left:7361.19px;white-space:nowrap">assets </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5268.64px;left:7931.43px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5268.64px;left:8141.48px;white-space:nowrap">liabilities, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5268.64px;left:8921.78px;white-space:nowrap">recent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5518.64px;left:5220px;white-space:nowrap">transactions, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5518.64px;left:6290.51px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5518.64px;left:6890.63px;white-space:nowrap">multiples, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5518.64px;left:7700.89px;white-space:nowrap">book </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5518.64px;left:8141.22px;white-space:nowrap">values, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5518.64px;left:8761.55px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5518.64px;left:9111.88px;white-space:nowrap">other </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5768.64px;left:5220px;white-space:nowrap">relevant </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5768.64px;left:5910.38px;white-space:nowrap">information </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5768.64px;left:6850.81px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5768.64px;left:7110.88px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5768.64px;left:7411.11px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5768.64px;left:8331.5px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5768.64px;left:8531.63px;white-space:nowrap">determine </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5768.64px;left:9382.06px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6018.64px;left:5220px;white-space:nowrap">fair </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6018.64px;left:5520.06px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6018.64px;left:6000.38px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6018.64px;left:6200.51px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6018.64px;left:6500.74px;white-space:nowrap">investment. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6018.64px;left:7461.21px;white-space:nowrap">An </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6018.64px;left:7731.39px;white-space:nowrap">income-based </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6018.64px;left:8912.02px;white-space:nowrap">valuation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6268.64px;left:5220px;white-space:nowrap">approach </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6268.64px;left:6020.6px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6268.64px;left:6410.65px;white-space:nowrap">also </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6268.64px;left:6790.87px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6268.64px;left:7041.09px;white-space:nowrap">used </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6268.64px;left:7481.43px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6268.64px;left:7671.53px;white-space:nowrap">which </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6268.64px;left:8181.74px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6268.64px;left:8481.97px;white-space:nowrap">anticipated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6268.64px;left:9402.63px;white-space:nowrap">future </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6518.64px;left:5220px;white-space:nowrap">cash </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6518.64px;left:5650.22px;text-rendering:optimizeLegibility;white-space:nowrap">flows </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6518.64px;left:6110.33px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6518.64px;left:6310.46px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6518.64px;left:6610.69px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6518.64px;left:7531.08px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6518.64px;left:7841.25px;white-space:nowrap">discounted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6518.64px;left:8761.9px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6518.64px;left:8962.03px;white-space:nowrap">calculate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6768.64px;left:5220px;white-space:nowrap">fair </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6768.64px;left:5520.06px;white-space:nowrap">value. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6768.64px;left:6050.39px;white-space:nowrap">Discounts </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6768.64px;left:6890.71px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6768.64px;left:7280.77px;white-space:nowrap">also </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6768.64px;left:7660.99px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6768.64px;left:7911.21px;white-space:nowrap">applied </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6768.64px;left:8541.74px;white-space:nowrap">due </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6768.64px;left:8892.07px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6768.64px;left:9092.2px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6768.64px;left:9392.43px;white-space:nowrap">nature </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7018.64px;left:5220px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7018.64px;left:5430.06px;white-space:nowrap">duration </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7018.64px;left:6130.55px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7018.64px;left:6330.67px;white-space:nowrap">any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7018.64px;left:6670.9px;white-space:nowrap">restrictions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7018.64px;left:7591.11px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7018.64px;left:7841.34px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7018.64px;left:8141.57px;white-space:nowrap">disposition </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7018.64px;left:9042.1px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7018.64px;left:9242.23px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7268.64px;left:5220px;white-space:nowrap">investments. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7268.64px;left:6280.4px;white-space:nowrap">Due </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7268.64px;left:6660.62px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7268.64px;left:6860.74px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7268.64px;left:7160.98px;white-space:nowrap">inherent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7268.64px;left:7861.46px;white-space:nowrap">uncertainty </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7268.64px;left:8791.96px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7268.64px;left:8992.09px;white-space:nowrap">valuations </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7268.64px;left:9852.63px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7518.64px;left:5220px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7518.64px;left:5650.22px;white-space:nowrap">investments, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7518.64px;left:6710.63px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7518.64px;left:7010.86px;white-space:nowrap">fair </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7518.64px;left:7310.92px;white-space:nowrap">values </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7518.64px;left:7881.24px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7518.64px;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:7518.64px;left:8718.22px;text-rendering:optimizeLegibility;white-space:nowrap">significantly </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7518.64px;left:9698.64px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7768.64px;left:5220px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7768.64px;left:5520.23px;white-space:nowrap">values </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7768.64px;left:6090.56px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7768.64px;left:6440.8px;white-space:nowrap">would </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7768.64px;left:6961.11px;white-space:nowrap">have </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7768.64px;left:7401.45px;white-space:nowrap">been </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7768.64px;left:7851.88px;white-space:nowrap">used </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7768.64px;left:8292.22px;white-space:nowrap">had </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7768.64px;left:8642.55px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7768.64px;left:8892.77px;white-space:nowrap">active </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7768.64px;left:9413px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8018.64px;left:5220px;white-space:nowrap">existed. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8448.64px;left:5220px;letter-spacing:-0.83px;white-space:nowrap">Trading </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8448.64px;left:5873.64px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8448.64px;left:6063.75px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8448.64px;left:6874.01px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8448.64px;left:7124.24px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8448.64px;left:7724.62px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8448.64px;left:8534.88px;white-space:nowrap">stock </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8448.64px;left:9005.01px;white-space:nowrap">exchanges </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">OTC </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8698.64px;left:6000.29px;white-space:nowrap">markets </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8698.64px;left:6690.41px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8698.64px;left:7080.47px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8698.64px;left:7330.69px;white-space:nowrap">completed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8698.64px;left:8211.18px;white-space:nowrap">before </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8698.64px;left:8771.57px;white-space:nowrap">4 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8698.64px;left:8921.69px;white-space:nowrap">p.m. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8698.64px;left:9321.77px;white-space:nowrap">Eastern </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8948.64px;left:5220px;white-space:nowrap">time. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8948.64px;left:5660.07px;white-space:nowrap">In </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8948.64px;left:5860.2px;white-space:nowrap">addition, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8948.64px;left:6590.74px;white-space:nowrap">trading </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8948.64px;left:7191.12px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8948.64px;left:7381.23px;white-space:nowrap">certain </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8948.64px;left:7971.5px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8948.64px;left:8571.88px;white-space:nowrap">markets </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8948.64px;left:9262px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8948.64px;left:9652.06px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9198.64px;left:5220px;white-space:nowrap">take </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9198.64px;left:5610.23px;white-space:nowrap">place </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9198.64px;left:6090.56px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9198.64px;left:6340.78px;white-space:nowrap">every </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9198.64px;left:6830.95px;white-space:nowrap">Fund&#39;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9198.64px;left:7415.6px;white-space:nowrap">business </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9198.64px;left:8176.03px;letter-spacing:-1.11px;white-space:nowrap">day.&#160;Events </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9198.64px;left:9153.19px;white-space:nowrap">can&#160;occur </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9448.64px;left:5220px;white-space:nowrap">between </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9448.64px;left:5950.55px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9448.64px;left:6250.78px;white-space:nowrap">time </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9448.64px;left:6640.84px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9448.64px;left:6840.97px;white-space:nowrap">which </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9448.64px;left:7351.17px;white-space:nowrap">trading </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9448.64px;left:7951.55px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9448.64px;left:8141.66px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9448.64px;left:8291.78px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9448.64px;left:8892.16px;white-space:nowrap">security </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9698.64px;left:5220px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9698.64px;left:5400px;white-space:nowrap">completed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9698.64px;left:6280.49px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9698.64px;left:6630.82px;white-space:nowrap">4 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9698.64px;left:6780.94px;white-space:nowrap">p.m. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9698.64px;left:7181.02px;white-space:nowrap">Eastern </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9698.64px;left:7851.36px;white-space:nowrap">time </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9698.64px;left:8241.42px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9698.64px;left:8591.66px;white-space:nowrap">might </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9698.64px;left:9081.83px;white-space:nowrap">call </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9698.64px;left:9401.92px;white-space:nowrap">into </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9948.64px;left:5220px;white-space:nowrap">question </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9948.64px;left:5950.55px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9948.64px;left:6250.78px;white-space:nowrap">reliability </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9948.64px;left:7001.02px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9948.64px;left:7201.14px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9948.64px;left:7501.38px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9948.64px;left:7981.7px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9948.64px;left:8181.83px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9948.64px;left:8331.94px;white-space:nowrap">portfolio </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9948.64px;left:9022.32px;white-space:nowrap">security </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9948.64px;left:9692.49px;white-space:nowrap">held </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10198.64px;left:5220px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10198.64px;left:5460.12px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10198.64px;left:5760.35px;white-space:nowrap">Fund. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10198.64px;left:6260.71px;white-space:nowrap">As </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10198.64px;left:6520.78px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10198.64px;left:6670.9px;white-space:nowrap">result, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10198.64px;left:7211.07px;letter-spacing:-0.27px;white-space:nowrap">differences </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10198.64px;left:8138.32px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10198.64px;left:8528.38px;white-space:nowrap">arise </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10198.64px;left:8968.54px;white-space:nowrap">between </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10198.64px;left:9699.08px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10448.64px;left:5220px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10448.64px;left:5700.32px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10448.64px;left:5900.45px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10448.64px;left:6200.68px;white-space:nowrap">Fund&#39;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10448.64px;left:6785.33px;white-space:nowrap">portfolio </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10448.64px;left:7475.71px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10448.64px;left:8285.98px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10448.64px;left:8526.09px;white-space:nowrap">determined </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10448.64px;left:9476.63px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10448.64px;left:9676.76px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10698.64px;left:5220px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10698.64px;left:5820.38px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10698.64px;left:6420.5px;white-space:nowrap">close </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10698.64px;left:6890.71px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10698.64px;left:7241.04px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10698.64px;left:7541.28px;white-space:nowrap">latest </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10698.64px;left:8021.51px;white-space:nowrap">indications </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10698.64px;left:8922.04px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10698.64px;left:9122.17px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10698.64px;left:9602.49px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10948.64px;left:5220px;white-space:nowrap">4 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10948.64px;left:5370.12px;white-space:nowrap">p.m. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10948.64px;left:5770.2px;white-space:nowrap">Eastern </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10948.64px;left:6440.54px;white-space:nowrap">time.&#160;In </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10948.64px;left:7080.73px;white-space:nowrap">order </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10948.64px;left:7550.95px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10948.64px;left:7751.07px;white-space:nowrap">minimize </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10948.64px;left:8511.15px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10948.64px;left:8811.39px;white-space:nowrap">potential </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10948.64px;left:9541.93px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11198.64px;left:5220px;white-space:nowrap">these </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11198.64px;left:5710.34px;letter-spacing:-0.25px;white-space:nowrap">differences, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11198.64px;left:6687.6px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11198.64px;left:6937.82px;white-space:nowrap">independent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11198.64px;left:7978.8px;white-space:nowrap">pricing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11198.64px;left:8559.05px;white-space:nowrap">service </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11198.64px;left:9179.21px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11198.64px;left:9569.27px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11448.64px;left:5220px;white-space:nowrap">used </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11448.64px;left:5660.33px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11448.64px;left:5860.46px;white-space:nowrap">adjust </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11448.64px;left:6390.79px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11448.64px;left:6691.03px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11448.64px;left:7171.35px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11448.64px;left:7371.47px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11448.64px;left:7671.71px;white-space:nowrap">Fund&#39;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11448.64px;left:8256.36px;white-space:nowrap">portfolio </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11448.64px;left:8946.74px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11448.64px;left:9757px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11698.64px;left:5220px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11698.64px;left:5520.23px;white-space:nowrap">latest </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11698.64px;left:6000.47px;white-space:nowrap">indications </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11698.64px;left:6901px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11698.64px;left:7101.12px;white-space:nowrap">fair </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11698.64px;left:7401.18px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11698.64px;left:7881.5px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11698.64px;left:8081.63px;white-space:nowrap">4 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11698.64px;left:8231.75px;white-space:nowrap">p.m. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11698.64px;left:8631.83px;white-space:nowrap">Eastern </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11698.64px;left:9302.17px;white-space:nowrap">time. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11698.64px;left:9732.3px;white-space:nowrap">At </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11948.64px;left:5220px;white-space:nowrap">February </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11948.64px;left:5990.27px;white-space:nowrap">28, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11948.64px;left:6290.51px;white-space:nowrap">2021, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11948.64px;left:6790.96px;white-space:nowrap">certain </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11948.64px;left:7381.23px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11948.64px;left:8191.49px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11948.64px;left:8581.55px;white-space:nowrap">have </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11948.64px;left:9021.88px;white-space:nowrap">been </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11948.64px;left:9472.32px;white-space:nowrap">fair </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">valued </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:988px;left:580.43px;white-space:nowrap">using </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:988px;left:1060.75px;white-space:nowrap">these </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:988px;left:1551.09px;white-space:nowrap">procedures, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:988px;left:2551.64px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:988px;left:2741.75px;white-space:nowrap">which </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:988px;left:3251.95px;white-space:nowrap">case </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:988px;left:3682.18px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:988px;left:3982.41px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1238px;left:0px;white-space:nowrap">were </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1238px;left:440.16px;white-space:nowrap">categorized </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1238px;left:1420.75px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1238px;left:1660.87px;white-space:nowrap">Level </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1238px;left:2141.19px;white-space:nowrap">2 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1238px;left:2291.31px;white-space:nowrap">inputs </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1238px;left:2821.64px;white-space:nowrap">within </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1238px;left:3331.85px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1238px;left:3632.08px;white-space:nowrap">fair </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1238px;left:3932.14px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1488px;left:0px;white-space:nowrap">hierarchy </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1488px;left:790.12px;white-space:nowrap">referred </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1488px;left:1470.2px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1488px;left:1670.13px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1488px;left:1910.06px;white-space:nowrap">&#8220;market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1488px;left:2569.92px;white-space:nowrap">level </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1488px;left:2989.93px;white-space:nowrap">fair </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1488px;left:3289.8px;white-space:nowrap">value&#8221;. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1488px;left:3879.88px;white-space:nowrap">See </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1488px;left:4249.97px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1488px;left:4550.01px;white-space:nowrap">Fair </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1738px;left:0px;letter-spacing:-2.23px;white-space:nowrap">Value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1738px;left:497.02px;white-space:nowrap">Measurements </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1738px;left:1737.51px;white-space:nowrap">note </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1738px;left:2137.85px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1738px;left:2397.92px;white-space:nowrap">more </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1738px;left:2858.03px;white-space:nowrap">information.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2168px;left:0px;white-space:nowrap">When </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2168px;left:520.22px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2168px;left:820.46px;white-space:nowrap">last </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2168px;left:1150.58px;white-space:nowrap">day </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2168px;left:1490.8px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2168px;left:1690.93px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2168px;left:1991.16px;white-space:nowrap">reporting </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2168px;left:2751.59px;white-space:nowrap">period </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2168px;left:3301.96px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2168px;left:3481.96px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2168px;left:3632.08px;white-space:nowrap">non-business </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2418px;left:0px;letter-spacing:-2.67px;white-space:nowrap">day, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2418px;left:376.88px;white-space:nowrap">certain </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2418px;left:967.15px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2418px;left:1567.53px;white-space:nowrap">markets </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2418px;left:2257.65px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2418px;left:2647.71px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2418px;left:2897.93px;white-space:nowrap">open </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2418px;left:3348.37px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2418px;left:3598.59px;white-space:nowrap">those </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2418px;left:4088.94px;white-space:nowrap">days </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2668px;left:0px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2668px;left:350.24px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2668px;left:650.48px;white-space:nowrap">Fund&#39;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2668px;left:1235.13px;letter-spacing:-3.34px;white-space:nowrap">NAV </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2668px;left:1641.88px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2668px;left:1821.88px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2668px;left:2122.12px;white-space:nowrap">calculated, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2668px;left:3032.67px;white-space:nowrap">which </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2668px;left:3542.87px;white-space:nowrap">could </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2668px;left:4023.19px;white-space:nowrap">result </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2918px;left:0px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2918px;left:190.11px;letter-spacing:-0.27px;white-space:nowrap">differences </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2918px;left:1117.35px;white-space:nowrap">between </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2918px;left:1847.9px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2918px;left:2148.13px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2918px;left:2628.46px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2918px;left:2828.58px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2918px;left:3128.82px;white-space:nowrap">Fund&#39;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2918px;left:3713.47px;white-space:nowrap">portfolio </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3168px;left:0px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3168px;left:810.26px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3168px;left:1060.49px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3168px;left:1360.72px;white-space:nowrap">last </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3168px;left:1690.84px;white-space:nowrap">business </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3168px;left:2451.27px;white-space:nowrap">day </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3168px;left:2791.49px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3168px;left:3141.83px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3168px;left:3442.06px;white-space:nowrap">last </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3168px;left:3772.18px;white-space:nowrap">calendar </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3168px;left:4512.66px;white-space:nowrap">day </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3418px;left:0px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3418px;left:200.13px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3418px;left:500.36px;white-space:nowrap">reporting </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3418px;left:1260.79px;white-space:nowrap">period. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3418px;left:1851.24px;white-space:nowrap">Any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3418px;left:2211.42px;white-space:nowrap">security </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3418px;left:2881.58px;white-space:nowrap">valuation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3418px;left:3652.12px;white-space:nowrap">changes </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3418px;left:4382.67px;white-space:nowrap">due </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3668px;left:0px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3668px;left:200.13px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3668px;left:450.35px;white-space:nowrap">open </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3668px;left:900.79px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3668px;left:1501.17px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3668px;left:2101.29px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3668px;left:2411.46px;white-space:nowrap">adjusted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3668px;left:3142px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3668px;left:3492.33px;text-rendering:optimizeLegibility;white-space:nowrap">reflected </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3668px;left:4232.72px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3668px;left:4472.84px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3918px;left:0px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3918px;left:460.28px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3918px;left:720.35px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3918px;left:1430.77px;white-space:nowrap">reporting </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3918px;left:2191.2px;white-space:nowrap">purposes.</div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:4421.54px;left:0px;white-space:nowrap">b. </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:4421.54px;left:221.64px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:4421.54px;left:971.06px;white-space:nowrap">Currency </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:4421.54px;left:1858.07px;letter-spacing:-0.87px;white-space:nowrap">Translation&#160;</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4752px;left:0px;white-space:nowrap">Portfolio </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4752px;left:710.33px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4752px;left:1520.6px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4752px;left:1870.93px;white-space:nowrap">other </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4752px;left:2331.21px;white-space:nowrap">assets </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4752px;left:2901.45px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4752px;left:3251.78px;white-space:nowrap">liabilities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5002px;left:0px;white-space:nowrap">denominated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5002px;left:1090.81px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5002px;left:1280.92px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5002px;left:1881.3px;white-space:nowrap">currencies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5002px;left:2761.61px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5002px;left:3071.78px;white-space:nowrap">translated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5002px;left:3912.28px;white-space:nowrap">into </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5002px;left:4252.5px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5252px;left:0px;white-space:nowrap">dollars </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5252px;left:580.25px;white-space:nowrap">based </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5252px;left:1120.69px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5252px;left:1370.92px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5252px;left:1671.15px;white-space:nowrap">exchange </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5252px;left:2501.81px;white-space:nowrap">rate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5252px;left:2861.98px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5252px;left:3062.11px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5252px;left:3492.33px;white-space:nowrap">currencies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5502px;left:0px;white-space:nowrap">against </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5502px;left:630.44px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5502px;left:1030.52px;white-space:nowrap">dollars </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5502px;left:1610.77px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5502px;left:1861px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5502px;left:2161.23px;white-space:nowrap">date </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5502px;left:2561.57px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5502px;left:2761.7px;white-space:nowrap">valuation. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5502px;left:3578.99px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5502px;left:3939.17px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5502px;left:4399.45px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5752px;left:0px;white-space:nowrap">enter </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5752px;left:460.28px;white-space:nowrap">into </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5752px;left:800.51px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5752px;left:1400.89px;white-space:nowrap">currency </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5752px;left:2141.1px;white-space:nowrap">exchange </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5752px;left:2971.76px;white-space:nowrap">contracts </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5752px;left:3752.05px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5752px;left:3952.18px;white-space:nowrap">facilitate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6002px;left:0px;white-space:nowrap">transactions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6002px;left:1020.5px;white-space:nowrap">denominated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6002px;left:2111.31px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6002px;left:2301.42px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6002px;left:2451.53px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6002px;left:3051.91px;letter-spacing:-1.34px;white-space:nowrap">currency. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6002px;left:3828.78px;white-space:nowrap">Purchases </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6252px;left:0px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6252px;left:350.33px;white-space:nowrap">sales </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6252px;left:820.55px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6252px;left:1020.67px;white-space:nowrap">securities, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6252px;left:1880.95px;white-space:nowrap">income </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6252px;left:2511.21px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6252px;left:2861.54px;white-space:nowrap">expense </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6252px;left:3592.09px;white-space:nowrap">items </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6502px;left:0px;white-space:nowrap">denominated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6502px;left:1090.81px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6502px;left:1280.92px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6502px;left:1881.3px;white-space:nowrap">currencies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6502px;left:2761.61px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6502px;left:3071.78px;white-space:nowrap">translated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6502px;left:3912.28px;white-space:nowrap">into </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6502px;left:4252.5px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6752px;left:0px;white-space:nowrap">dollars </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6752px;left:580.25px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6752px;left:780.38px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6752px;left:1080.62px;white-space:nowrap">exchange </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6752px;left:1911.27px;white-space:nowrap">rate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6752px;left:2271.45px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6752px;left:2461.55px;letter-spacing:-0.46px;white-space:nowrap">effect </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6752px;left:2948.55px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6752px;left:3198.78px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6752px;left:3499.01px;white-space:nowrap">transaction </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6752px;left:4429.51px;white-space:nowrap">date. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7002px;left:0px;white-space:nowrap">Portfolio </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7002px;left:710.33px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7002px;left:1520.6px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7002px;left:1870.93px;white-space:nowrap">assets </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7002px;left:2441.16px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7002px;left:2791.49px;white-space:nowrap">liabilities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7002px;left:3521.78px;white-space:nowrap">denominated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7252px;left:0px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7252px;left:190.11px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7252px;left:790.49px;white-space:nowrap">currencies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7252px;left:1670.8px;white-space:nowrap">contain </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7252px;left:2301.24px;white-space:nowrap">risks </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7252px;left:2721.18px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7252px;left:3071.43px;white-space:nowrap">those </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7252px;left:3561.77px;white-space:nowrap">currencies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7252px;left:4442.08px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7502px;left:0px;white-space:nowrap">decline </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7502px;left:620.42px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7502px;left:810.53px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7502px;left:1290.85px;white-space:nowrap">relative </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7502px;left:1921.11px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7502px;left:2121.24px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7502px;left:2421.47px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7502px;left:2821.55px;letter-spacing:-1.24px;white-space:nowrap">dollar. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7502px;left:3351.88px;letter-spacing:-0.95px;white-space:nowrap">Occasionally, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7752px;left:0px;white-space:nowrap">events </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7752px;left:580.34px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7752px;left:970.4px;white-space:nowrap">impact </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7752px;left:1550.57px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7752px;left:1850.8px;white-space:nowrap">availability </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7752px;left:2731.2px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7752px;left:2941.26px;white-space:nowrap">reliability </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7752px;left:3691.49px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7752px;left:3891.62px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8002px;left:0px;white-space:nowrap">exchange </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8002px;left:830.65px;white-space:nowrap">rates </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8002px;left:1280.83px;white-space:nowrap">used </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8002px;left:1721.16px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8002px;left:1921.29px;white-space:nowrap">convert </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8002px;left:2561.57px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8002px;left:2861.81px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8002px;left:3261.88px;white-space:nowrap">dollar </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8002px;left:3752.14px;white-space:nowrap">equivalent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8252px;left:0px;white-space:nowrap">value. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8252px;left:530.33px;white-space:nowrap">If </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8252px;left:680.36px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8252px;left:1110.59px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8252px;left:1360.81px;white-space:nowrap">event </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8252px;left:1851.15px;white-space:nowrap">occurs, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8252px;left:2481.33px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8252px;left:2781.56px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8252px;left:3381.94px;white-space:nowrap">exchange </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8252px;left:4212.6px;white-space:nowrap">rate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8502px;left:0px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8502px;left:299.97px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8502px;left:550.2px;white-space:nowrap">valued </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8502px;left:1130.63px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8502px;left:1330.75px;white-space:nowrap">fair </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8502px;left:1630.81px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8502px;left:2111.13px;white-space:nowrap">using </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8502px;left:2591.46px;white-space:nowrap">procedures </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8502px;left:3541.99px;white-space:nowrap">established </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8502px;left:4502.64px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8752px;left:0px;white-space:nowrap">approved </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8752px;left:800.6px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8752px;left:1040.71px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8752px;left:1340.95px;white-space:nowrap">Board.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9182px;left:0px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9182px;left:360.18px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9182px;left:820.46px;white-space:nowrap">does </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9182px;left:1260.79px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9182px;left:1561.03px;white-space:nowrap">separately </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9182px;left:2441.51px;white-space:nowrap">report </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9182px;left:2961.74px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9182px;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:9182px;left:3748.97px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9182px;left:3949.1px;white-space:nowrap">changes </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9432px;left:0px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9432px;left:190.11px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9432px;left:790.49px;white-space:nowrap">exchange </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9432px;left:1621.14px;white-space:nowrap">rates </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9432px;left:2071.32px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9432px;left:2481.33px;white-space:nowrap">changes </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9432px;left:3211.88px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9432px;left:3401.98px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9432px;left:4002.1px;white-space:nowrap">prices </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9682px;left:0px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9682px;left:250.22px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9682px;left:1060.49px;white-space:nowrap">held. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9682px;left:1500.82px;white-space:nowrap">Such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9682px;left:1961.1px;white-space:nowrap">changes </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9682px;left:2691.65px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9682px;left:3001.82px;white-space:nowrap">included </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9682px;left:3722.34px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9682px;left:3912.45px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9932px;left:0px;white-space:nowrap">realized </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9932px;left:680.36px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9932px;left:1030.69px;white-space:nowrap">unrealized </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9932px;left:1911.27px;white-space:nowrap">gain </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9932px;left:2301.59px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9932px;left:2511.65px;white-space:nowrap">loss </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9932px;left:2881.76px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9932px;left:3291.77px;white-space:nowrap">investments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9932px;left:4302.16px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9932px;left:4492.27px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10182px;left:0px;white-space:nowrap">Statement&#160;of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10182px;left:1070.6px;white-space:nowrap">Operations.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10612px;left:0px;white-space:nowrap">Realized </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10612px;left:750.41px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10612px;left:1350.79px;white-space:nowrap">exchange </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10612px;left:2181.45px;white-space:nowrap">gains </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10612px;left:2661.77px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10612px;left:2871.83px;white-space:nowrap">losses </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10612px;left:3432.04px;white-space:nowrap">arise </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10612px;left:3872.2px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10612px;left:4282.21px;white-space:nowrap">sales </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10862px;left:0px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10862px;left:200.13px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10862px;left:800.51px;white-space:nowrap">currencies, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10862px;left:1730.83px;white-space:nowrap">currency </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10862px;left:2471.04px;white-space:nowrap">gains </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10862px;left:2951.37px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10862px;left:3161.43px;white-space:nowrap">losses </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10862px;left:3721.64px;white-space:nowrap">realized </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11112px;left:0px;white-space:nowrap">between </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11112px;left:730.55px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11112px;left:1030.78px;white-space:nowrap">trade </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11112px;left:1491.06px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11112px;left:1841.4px;white-space:nowrap">settlement </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11112px;left:2721.8px;white-space:nowrap">dates </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11112px;left:3212.14px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11112px;left:3462.36px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11362px;left:0px;white-space:nowrap">transactions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11362px;left:1020.5px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11362px;left:1370.83px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11362px;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:11362px;left:2508.31px;white-space:nowrap">between </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11362px;left:3238.86px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11362px;left:3539.09px;white-space:nowrap">recorded </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11612px;left:0px;white-space:nowrap">amounts </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11612px;left:740.39px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11612px;left:940.52px;white-space:nowrap">dividends, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11612px;left:1801.05px;white-space:nowrap">interest, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11612px;left:2491.35px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11612px;left:2841.68px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11612px;left:3442.06px;white-space:nowrap">withholding </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11862px;left:0px;white-space:nowrap">taxes </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11862px;left:480.23px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11862px;left:830.57px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11862px;left:1130.8px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11862px;left:1530.88px;white-space:nowrap">dollar </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11862px;left:2021.13px;white-space:nowrap">equivalent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11862px;left:2891.78px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11862px;left:3091.9px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11862px;left:3392.14px;white-space:nowrap">amounts </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11862px;left:4132.53px;white-space:nowrap">actually </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:5220px;white-space:nowrap">received </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:5950.37px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:6160.43px;white-space:nowrap">paid. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:6600.76px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:6930.88px;white-space:nowrap">unrealized </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:7811.46px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:8411.84px;white-space:nowrap">exchange </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:9242.49px;white-space:nowrap">gains </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:5220px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:5570.33px;white-space:nowrap">losses </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:6130.55px;white-space:nowrap">arise </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:6570.7px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:6980.71px;white-space:nowrap">changes </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:7711.26px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:7901.37px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:8501.75px;white-space:nowrap">exchange </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:9332.4px;white-space:nowrap">rates </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:5220px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:5470.22px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:6070.61px;white-space:nowrap">denominated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:7161.42px;white-space:nowrap">assets </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:7731.65px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:8081.98px;white-space:nowrap">liabilities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:8812.27px;white-space:nowrap">other </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:9272.55px;white-space:nowrap">than </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:5220px;white-space:nowrap">investments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:6230.39px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:6420.5px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:7230.76px;white-space:nowrap">held </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:7621.08px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:7821.21px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:8121.45px;white-space:nowrap">end </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:8471.78px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:8671.9px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:8972.14px;white-space:nowrap">reporting </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:5220px;white-space:nowrap">period.</div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:1482.18px;left:5220px;white-space:nowrap">c. </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:1482.18px;left:5431.25px;white-space:nowrap">Joint </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:1482.18px;left:5937.88px;white-space:nowrap">Repurchase </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:1482.18px;left:7071.29px;white-space:nowrap">Agreement</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1812.64px;left:5220px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1812.64px;left:5580.18px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1812.64px;left:6040.46px;white-space:nowrap">enters </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1812.64px;left:6590.74px;white-space:nowrap">into </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1812.64px;left:6930.97px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1812.64px;left:7081.08px;white-space:nowrap">joint </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1812.64px;left:7461.3px;white-space:nowrap">repurchase </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1812.64px;left:8411.84px;white-space:nowrap">agreement </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1812.64px;left:9322.38px;white-space:nowrap">whereby </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2062.64px;left:5220px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2062.64px;left:5450.01px;white-space:nowrap">uninvested </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2062.64px;left:6370.66px;white-space:nowrap">cash </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2062.64px;left:6800.89px;white-space:nowrap">balance </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2062.64px;left:7481.43px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2062.64px;left:7661.43px;white-space:nowrap">deposited </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2062.64px;left:8492.08px;white-space:nowrap">into </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2062.64px;left:8832.3px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2062.64px;left:8982.42px;white-space:nowrap">joint </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2062.64px;left:9362.64px;white-space:nowrap">cash </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2312.64px;left:5220px;white-space:nowrap">account </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2312.64px;left:5900.45px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2312.64px;left:6270.56px;white-space:nowrap">other </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2312.64px;left:6730.84px;white-space:nowrap">funds </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2312.64px;left:7221.18px;white-space:nowrap">managed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2312.64px;left:8021.78px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2312.64px;left:8261.89px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2312.64px;left:8562.13px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2562.64px;left:5220px;white-space:nowrap">manager </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2562.64px;left:5980.43px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2562.64px;left:6190.49px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2562.64px;left:6440.71px;text-rendering:optimizeLegibility;white-space:nowrap">affiliate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2562.64px;left:7061.04px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2562.64px;left:7261.17px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2562.64px;left:7561.41px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2562.64px;left:8481.8px;white-space:nowrap">manager </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2562.64px;left:9242.23px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2562.64px;left:9592.56px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2812.64px;left:5220px;white-space:nowrap">used </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2812.64px;left:5660.33px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2812.64px;left:5860.46px;white-space:nowrap">invest </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2812.64px;left:6380.68px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2812.64px;left:6570.79px;white-space:nowrap">one </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2812.64px;left:6921.12px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2812.64px;left:7131.18px;white-space:nowrap">more </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2812.64px;left:7591.29px;white-space:nowrap">repurchase </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2812.64px;left:8541.83px;white-space:nowrap">agreements. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2812.64px;left:9589.13px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3062.64px;left:5220px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3062.64px;left:5700.32px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3062.64px;left:6050.65px;white-space:nowrap">face </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3062.64px;left:6440.89px;white-space:nowrap">amount </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3062.64px;left:7091.28px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3062.64px;left:7291.41px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3062.64px;left:7591.64px;white-space:nowrap">joint </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3062.64px;left:7971.86px;white-space:nowrap">repurchase </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3062.64px;left:8922.39px;white-space:nowrap">agreement </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3312.64px;left:5220px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3312.64px;left:5530.17px;white-space:nowrap">allocated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3312.64px;left:6300.7px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3312.64px;left:6500.83px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3312.64px;left:6801.06px;white-space:nowrap">funds </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3312.64px;left:7291.41px;white-space:nowrap">based </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3312.64px;left:7831.85px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3312.64px;left:8082.07px;white-space:nowrap">their </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3312.64px;left:8482.24px;white-space:nowrap">pro-rata </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3312.64px;left:9162.51px;white-space:nowrap">interest. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3562.64px;left:5220px;letter-spacing:-4.97px;white-space:nowrap">A </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3562.64px;left:5380.14px;white-space:nowrap">repurchase </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3562.64px;left:6330.67px;white-space:nowrap">agreement </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3562.64px;left:7241.22px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3562.64px;left:7421.22px;white-space:nowrap">accounted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3562.64px;left:8301.88px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3562.64px;left:8561.95px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3562.64px;left:8802.07px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3562.64px;left:8952.19px;white-space:nowrap">loan </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3562.64px;left:9342.51px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3562.64px;left:9582.63px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3812.64px;left:5220px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3812.64px;left:5680.28px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3812.64px;left:5880.41px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3812.64px;left:6180.64px;letter-spacing:-1.24px;white-space:nowrap">seller, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3812.64px;left:6700.87px;white-space:nowrap">collateralized </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3812.64px;left:7801.44px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3812.64px;left:8041.55px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3812.64px;left:8851.82px;white-space:nowrap">which </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3812.64px;left:9362.02px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4062.64px;left:5220px;white-space:nowrap">delivered </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4062.64px;left:6000.47px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4062.64px;left:6200.6px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4062.64px;left:6500.83px;white-space:nowrap">Fund&#39;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4062.64px;left:7085.48px;white-space:nowrap">custodian. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4062.64px;left:7952.78px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4062.64px;left:8312.96px;white-space:nowrap">fair </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4062.64px;left:8613.02px;white-space:nowrap">value, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4062.64px;left:9143.35px;white-space:nowrap">including </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4312.64px;left:5220px;white-space:nowrap">accrued </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4312.64px;left:5910.38px;white-space:nowrap">interest, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4312.64px;left:6600.67px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4312.64px;left:6800.8px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4312.64px;left:7101.04px;white-space:nowrap">initial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4312.64px;left:7561.23px;white-space:nowrap">collateralization </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4312.64px;left:8851.9px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4312.64px;left:9031.9px;white-space:nowrap">required </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4312.64px;left:9742.32px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4562.64px;left:5220px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4562.64px;left:5470.22px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4562.64px;left:5670.35px;white-space:nowrap">least </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4562.64px;left:6100.58px;white-space:nowrap">102% </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4562.64px;left:6610.96px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4562.64px;left:6811.08px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4562.64px;left:7111.32px;white-space:nowrap">dollar </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4562.64px;left:7601.57px;white-space:nowrap">amount </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4562.64px;left:8251.96px;white-space:nowrap">invested </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4562.64px;left:8972.4px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4562.64px;left:9212.52px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4562.64px;left:9512.75px;white-space:nowrap">funds, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4812.64px;left:5220px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4812.64px;left:5590.11px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4812.64px;left:5890.34px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4812.64px;left:6370.66px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4812.64px;left:6570.79px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4812.64px;left:6871.03px;white-space:nowrap">underlying </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4812.64px;left:7751.6px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4812.64px;left:8561.87px;white-space:nowrap">marked </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4812.64px;left:9212.08px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4812.64px;left:9412.21px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5062.64px;left:5220px;white-space:nowrap">daily </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5062.64px;left:5640.21px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5062.64px;left:5840.33px;white-space:nowrap">maintain </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5062.64px;left:6570.7px;white-space:nowrap">coverage </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5062.64px;left:7361.19px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5062.64px;left:7561.32px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5062.64px;left:7761.45px;white-space:nowrap">least </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5062.64px;left:8191.67px;white-space:nowrap">100%. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5062.64px;left:8752.06px;white-space:nowrap">Repurchase </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5312.64px;left:5220px;white-space:nowrap">agreements </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5312.64px;left:6220.55px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5312.64px;left:6530.71px;white-space:nowrap">subject </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5312.64px;left:7151.04px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5312.64px;left:7351.17px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5312.64px;left:7651.41px;white-space:nowrap">terms </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5312.64px;left:8151.42px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5312.64px;left:8351.54px;white-space:nowrap">Master </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5312.64px;left:8951.66px;white-space:nowrap">Repurchase </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5562.64px;left:5220px;white-space:nowrap">Agreements </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5562.64px;left:6240.5px;white-space:nowrap">(MRAs) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5562.64px;left:6900.38px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5562.64px;left:7270.49px;white-space:nowrap">approved </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5562.64px;left:8071.08px;white-space:nowrap">counterparties </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5562.64px;left:9261.74px;white-space:nowrap">(sellers). </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5812.64px;left:5220px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5812.64px;left:5580.18px;white-space:nowrap">MRAs </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5812.64px;left:6120.18px;white-space:nowrap">contain </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5812.64px;left:6750.62px;white-space:nowrap">various </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5812.64px;left:7380.88px;white-space:nowrap">provisions, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5812.64px;left:8291.25px;white-space:nowrap">including </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5812.64px;left:9051.77px;white-space:nowrap">but </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5812.64px;left:9352px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6062.64px;left:5220px;white-space:nowrap">limited </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6062.64px;left:5790.15px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6062.64px;left:5990.27px;white-space:nowrap">events </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6062.64px;left:6570.62px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6062.64px;left:6770.74px;white-space:nowrap">default </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6062.64px;left:7361.19px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6062.64px;left:7711.52px;white-space:nowrap">maintenance </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6062.64px;left:8792.23px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6062.64px;left:8992.35px;white-space:nowrap">collateral </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6312.64px;left:5220px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6312.64px;left:5480.07px;white-space:nowrap">repurchase </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6312.64px;left:6430.61px;white-space:nowrap">agreements. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6312.64px;left:7481.16px;white-space:nowrap">In </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6312.64px;left:7681.29px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6312.64px;left:7981.52px;white-space:nowrap">event </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6312.64px;left:8471.87px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6312.64px;left:8671.99px;white-space:nowrap">default </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6312.64px;left:9262.44px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6312.64px;left:9502.56px;white-space:nowrap">either </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6562.64px;left:5220px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6562.64px;left:5520.23px;white-space:nowrap">seller </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6562.64px;left:6000.38px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6562.64px;left:6210.44px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6562.64px;left:6510.67px;white-space:nowrap">Fund, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6562.64px;left:7020.97px;white-space:nowrap">certain </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6562.64px;left:7611.24px;white-space:nowrap">MRAs </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6562.64px;left:8151.24px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6562.64px;left:8541.3px;white-space:nowrap">permit </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6562.64px;left:9091.41px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6562.64px;left:9391.64px;white-space:nowrap">non-</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6812.64px;left:5220px;white-space:nowrap">defaulting </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6812.64px;left:6050.65px;white-space:nowrap">party </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6812.64px;left:6500.83px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6812.64px;left:6700.96px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6812.64px;left:7001.19px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6812.64px;left:7351.52px;white-space:nowrap">close-out </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6812.64px;left:8131.9px;white-space:nowrap">all </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6812.64px;left:8362px;white-space:nowrap">transactions, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6812.64px;left:9432.51px;white-space:nowrap">if </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6812.64px;left:9572.52px;letter-spacing:-2.67px;white-space:nowrap">any, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7062.64px;left:5220px;white-space:nowrap">traded </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7062.64px;left:5780.39px;white-space:nowrap">under </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7062.64px;left:6290.77px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7062.64px;left:6721px;white-space:nowrap">agreements. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7062.64px;left:7768.3px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7062.64px;left:8128.48px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7062.64px;left:8588.76px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7062.64px;left:8978.82px;white-space:nowrap">sell </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7062.64px;left:9298.92px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7312.64px;left:5220px;white-space:nowrap">it </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7312.64px;left:5360.01px;white-space:nowrap">holds </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7312.64px;left:5840.33px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7312.64px;left:6080.45px;white-space:nowrap">collateral </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7312.64px;left:6850.81px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7312.64px;left:7201.14px;white-space:nowrap">apply </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7312.64px;left:7681.46px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7312.64px;left:7981.7px;white-space:nowrap">proceeds </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7312.64px;left:8772.19px;white-space:nowrap">towards </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7312.64px;left:9452.46px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7562.64px;left:5220px;white-space:nowrap">repurchase </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7562.64px;left:6170.54px;white-space:nowrap">price </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7562.64px;left:6610.69px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7562.64px;left:6961.03px;white-space:nowrap">any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7562.64px;left:7301.25px;white-space:nowrap">other </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7562.64px;left:7761.53px;white-space:nowrap">amounts </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7562.64px;left:8501.92px;white-space:nowrap">owed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7562.64px;left:8982.25px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7562.64px;left:9222.36px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7562.64px;left:9522.6px;white-space:nowrap">seller </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7812.64px;left:5220px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7812.64px;left:5420.13px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7812.64px;left:5720.36px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7812.64px;left:6180.64px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7812.64px;left:6370.75px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7812.64px;left:6670.99px;white-space:nowrap">event </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7812.64px;left:7161.33px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7812.64px;left:7361.46px;white-space:nowrap">default </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7812.64px;left:7951.9px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7812.64px;left:8192.02px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7812.64px;left:8492.26px;letter-spacing:-1.24px;white-space:nowrap">seller. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7812.64px;left:9009.23px;white-space:nowrap">This </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7812.64px;left:9399.29px;white-space:nowrap">could </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8062.64px;left:5220px;white-space:nowrap">involve </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8062.64px;left:5830.31px;white-space:nowrap">costs </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8062.64px;left:6300.44px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8062.64px;left:6510.5px;white-space:nowrap">delays </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8062.64px;left:7080.82px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8062.64px;left:7270.93px;white-space:nowrap">addition </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8062.64px;left:7951.46px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8062.64px;left:8151.59px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8062.64px;left:8301.71px;white-space:nowrap">loss </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8062.64px;left:8671.82px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8062.64px;left:8922.04px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8062.64px;left:9222.28px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8312.64px;left:5220px;white-space:nowrap">if </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8312.64px;left:5360.01px;white-space:nowrap">their </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8312.64px;left:5760.18px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8312.64px;left:6240.5px;white-space:nowrap">falls </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8312.64px;left:6610.61px;white-space:nowrap">below </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8312.64px;left:7130.92px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8312.64px;left:7431.15px;white-space:nowrap">repurchase </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8312.64px;left:8381.69px;white-space:nowrap">price </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8312.64px;left:8821.85px;white-space:nowrap">owed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8312.64px;left:9302.17px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8312.64px;left:9542.29px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8562.64px;left:5220px;letter-spacing:-1.24px;white-space:nowrap">seller. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8562.64px;left:5736.97px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8562.64px;left:6097.15px;white-space:nowrap">joint </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8562.64px;left:6477.36px;white-space:nowrap">repurchase </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8562.64px;left:7427.9px;white-space:nowrap">agreement </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8562.64px;left:8338.45px;white-space:nowrap">held </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8562.64px;left:8728.77px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8562.64px;left:8968.89px;white-space:nowrap">the&#160;Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8562.64px;left:9729.4px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8812.64px;left:5220px;white-space:nowrap">period </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8812.64px;left:5770.37px;white-space:nowrap">end, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8812.64px;left:6170.71px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8812.64px;left:6410.83px;white-space:nowrap">indicated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8812.64px;left:7181.37px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8812.64px;left:7371.47px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8812.64px;left:7671.71px;white-space:nowrap">Statement </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8812.64px;left:8542.18px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8812.64px;left:8742.3px;white-space:nowrap">Investments, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9062.64px;left:5220px;white-space:nowrap">had </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9062.64px;left:5570.33px;white-space:nowrap">been </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9062.64px;left:6020.77px;white-space:nowrap">entered </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9062.64px;left:6681.27px;white-space:nowrap">into </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9062.64px;left:7021.49px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9062.64px;left:7271.72px;white-space:nowrap">February </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9062.64px;left:8041.99px;white-space:nowrap">26, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9062.64px;left:8342.23px;white-space:nowrap">2021. </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:9566.18px;left:5220px;white-space:nowrap">d. </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:9566.18px;left:5441.64px;white-space:nowrap">Securities </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:9566.18px;left:6402.68px;white-space:nowrap">Lending</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9896.64px;left:5220px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9896.64px;left:5580.18px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9896.64px;left:6040.46px;white-space:nowrap">participates </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9896.64px;left:7010.95px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9896.64px;left:7201.05px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9896.64px;left:7451.28px;white-space:nowrap">agency </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9896.64px;left:8081.72px;white-space:nowrap">based </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9896.64px;left:8622.16px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9896.64px;left:9432.42px;white-space:nowrap">lending </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10146.64px;left:5220px;white-space:nowrap">program </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10146.64px;left:5940.26px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10146.64px;left:6140.39px;white-space:nowrap">earn </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10146.64px;left:6550.66px;white-space:nowrap">additional </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10146.64px;left:7371.3px;white-space:nowrap">income. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10146.64px;left:8048.32px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10146.64px;left:8408.5px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10146.64px;left:8868.78px;white-space:nowrap">receives </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10396.64px;left:5220px;white-space:nowrap">collateral </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10396.64px;left:5990.36px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10396.64px;left:6180.47px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10396.64px;left:6480.7px;white-space:nowrap">form </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10396.64px;left:6890.71px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10396.64px;left:7090.84px;white-space:nowrap">cash </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10396.64px;left:7521.06px;white-space:nowrap">and/or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10396.64px;left:8081.46px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10396.64px;left:8481.53px;white-space:nowrap">Government </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10646.64px;left:5220px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10646.64px;left:5560.4px;white-space:nowrap">Agency </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10646.64px;left:6210.79px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10646.64px;left:7021.05px;white-space:nowrap">against </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10646.64px;left:7651.49px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10646.64px;left:7951.73px;white-space:nowrap">loaned </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10646.64px;left:8542.27px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10646.64px;left:9352.53px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10646.64px;left:9542.64px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10896.64px;left:5220px;white-space:nowrap">amount </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10896.64px;left:5870.39px;white-space:nowrap">equal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10896.64px;left:6360.82px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10896.64px;left:6560.95px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10896.64px;left:6761.07px;white-space:nowrap">least </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10896.64px;left:7191.3px;white-space:nowrap">102% </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10896.64px;left:7701.68px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10896.64px;left:7901.81px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10896.64px;left:8202.04px;white-space:nowrap">fair </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10896.64px;left:8502.1px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10896.64px;left:8982.42px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10896.64px;left:9182.55px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10896.64px;left:9482.78px;white-space:nowrap">loaned </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11146.64px;left:5220px;white-space:nowrap">securities. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11146.64px;left:6080.27px;white-space:nowrap">Collateral </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11146.64px;left:6890.62px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11146.64px;left:7070.62px;white-space:nowrap">maintained </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11146.64px;left:8001.21px;white-space:nowrap">over </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11146.64px;left:8401.38px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11146.64px;left:8701.61px;white-space:nowrap">life </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11146.64px;left:8981.72px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11146.64px;left:9181.85px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11146.64px;left:9482.08px;white-space:nowrap">loan </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11396.64px;left:5220px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11396.64px;left:5410.11px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11396.64px;left:5660.33px;white-space:nowrap">amount </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11396.64px;left:6310.72px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11396.64px;left:6610.96px;white-space:nowrap">less </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11396.64px;left:6981.06px;white-space:nowrap">than </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11396.64px;left:7381.41px;white-space:nowrap">100% </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11396.64px;left:7891.79px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11396.64px;left:8091.91px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11396.64px;left:8392.15px;white-space:nowrap">fair </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11396.64px;left:8692.21px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11396.64px;left:9172.53px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11396.64px;left:9372.66px;white-space:nowrap">loaned </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11646.64px;left:5220px;white-space:nowrap">securities, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11646.64px;left:6080.27px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11646.64px;left:6320.39px;white-space:nowrap">determined </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11646.64px;left:7270.93px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11646.64px;left:7471.05px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11646.64px;left:7771.29px;white-space:nowrap">close </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11646.64px;left:8241.5px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11646.64px;left:8441.63px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11646.64px;left:8901.91px;white-space:nowrap">business </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11646.64px;left:9662.34px;white-space:nowrap">each </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11896.64px;left:5220px;white-space:nowrap">day; </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11896.64px;left:5610.23px;white-space:nowrap">any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11896.64px;left:5950.46px;white-space:nowrap">additional </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11896.64px;left:6771.09px;white-space:nowrap">collateral </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11896.64px;left:7541.46px;white-space:nowrap">required </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11896.64px;left:8251.87px;white-space:nowrap">due </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11896.64px;left:8602.21px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11896.64px;left:8802.33px;white-space:nowrap">changes </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11896.64px;left:9532.88px;white-space:nowrap">in </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">a. </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">Financial </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:657.54px;left:1087.58px;white-space:nowrap">Instrument </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:657.54px;left:2122.1px;letter-spacing:-0.81px;white-space:nowrap">Valuation&#160; </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:682.94px;left:3072.29px;white-space:nowrap">(continued)</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">security </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:988px;left:670.17px;white-space:nowrap">values </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:988px;left:1240.49px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:988px;left:1420.49px;white-space:nowrap">delivered </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:988px;left:2200.96px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:988px;left:2401.08px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:988px;left:2701.32px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:988px;left:3161.6px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:988px;left:3411.83px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:988px;left:3712.06px;white-space:nowrap">next </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:988px;left:4102.29px;white-space:nowrap">business </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1238px;left:0px;letter-spacing:-2.67px;white-space:nowrap">day. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1238px;left:366.94px;white-space:nowrap">Any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1238px;left:727.12px;white-space:nowrap">cash </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1238px;left:1157.34px;white-space:nowrap">collateral </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1238px;left:1927.71px;white-space:nowrap">received </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1238px;left:2658.08px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1238px;left:2838.08px;white-space:nowrap">deposited </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1238px;left:3668.73px;white-space:nowrap">into </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1238px;left:4008.96px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1238px;left:4159.07px;white-space:nowrap">joint </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1488px;left:0px;white-space:nowrap">cash </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1488px;left:430.22px;white-space:nowrap">account </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1488px;left:1110.67px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1488px;left:1480.78px;white-space:nowrap">other </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1488px;left:1941.06px;white-space:nowrap">funds </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1488px;left:2431.41px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1488px;left:2781.74px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1488px;left:2961.74px;white-space:nowrap">used </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1488px;left:3402.07px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1488px;left:3602.2px;white-space:nowrap">invest </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1488px;left:4122.42px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1488px;left:4312.53px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1738px;left:0px;white-space:nowrap">money </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1738px;left:590.27px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1738px;left:1190.39px;white-space:nowrap">fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1738px;left:1590.73px;white-space:nowrap">managed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1738px;left:2391.33px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1738px;left:2631.45px;white-space:nowrap">Franklin </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1738px;left:3311.72px;white-space:nowrap">Advisers, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1738px;left:4101.94px;white-space:nowrap">Inc., </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1738px;left:4492.09px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1988px;left:0px;text-rendering:optimizeLegibility;white-space:nowrap">affiliate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1988px;left:620.33px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1988px;left:820.46px;white-space:nowrap">the&#160;Fund, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1988px;left:1630.99px;white-space:nowrap">and/or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1988px;left:2191.38px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1988px;left:2341.49px;white-space:nowrap">joint </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1988px;left:2721.71px;white-space:nowrap">repurchase </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1988px;left:3672.25px;white-space:nowrap">agreement </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2238px;left:0px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2238px;left:190.11px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2238px;left:490.34px;white-space:nowrap">Statement </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2238px;left:1360.81px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2238px;left:1551.01px;white-space:nowrap">Assets </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2238px;left:2141.19px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2238px;left:2491.52px;white-space:nowrap">Liabilities. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2238px;left:3328.68px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2238px;left:3688.86px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2238px;left:4149.14px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2488px;left:0px;white-space:nowrap">receive </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2488px;left:630.26px;white-space:nowrap">income </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2488px;left:1260.53px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2488px;left:1670.54px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2488px;left:1970.77px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2488px;left:2891.16px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2488px;left:3091.29px;white-space:nowrap">cash </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2488px;left:3521.51px;white-space:nowrap">collateral, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2488px;left:4341.88px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2738px;left:0px;white-space:nowrap">addition </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2738px;left:680.54px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2738px;left:880.66px;white-space:nowrap">lending </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2738px;left:1511.19px;white-space:nowrap">fees </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2738px;left:1901.43px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2738px;left:2251.76px;white-space:nowrap">rebates </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2738px;left:2902.15px;white-space:nowrap">paid </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2738px;left:3292.47px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2738px;left:3532.59px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2738px;left:3832.82px;letter-spacing:-0.99px;white-space:nowrap">borrower. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2988px;left:0px;white-space:nowrap">Income </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2988px;left:640.28px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2988px;left:1050.29px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2988px;left:1860.56px;white-space:nowrap">loaned, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2988px;left:2501.1px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2988px;left:2801.34px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2988px;left:3001.46px;white-space:nowrap">fees </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2988px;left:3391.7px;white-space:nowrap">paid </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2988px;left:3782.02px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2988px;left:3982.15px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3238px;left:0px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3238px;left:810.26px;white-space:nowrap">lending </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3238px;left:1440.79px;white-space:nowrap">agent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3238px;left:1941.24px;white-space:nowrap">and/or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3238px;left:2501.63px;white-space:nowrap">third-party </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3238px;left:3361.9px;letter-spacing:-1.24px;white-space:nowrap">vendor, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3238px;left:4002.36px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3238px;left:4182.36px;white-space:nowrap">reported </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3488px;left:0px;white-space:nowrap">separately </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3488px;left:880.49px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3488px;left:1070.6px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3488px;left:1370.83px;white-space:nowrap">Statement </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3488px;left:2241.3px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3488px;left:2441.43px;white-space:nowrap">Operations. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3488px;left:3418.68px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3488px;left:3778.86px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3738px;left:0px;white-space:nowrap">bears </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3738px;left:500.27px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3738px;left:800.51px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3738px;left:1400.63px;white-space:nowrap">risk </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3738px;left:1730.57px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3738px;left:2100.67px;white-space:nowrap">respect </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3738px;left:2740.96px;white-space:nowrap">to&#160;any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3738px;left:3281.31px;white-space:nowrap">cash&#160;collateral </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3988px;left:0px;white-space:nowrap">investment, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3988px;left:970.4px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3988px;left:1780.66px;white-space:nowrap">loaned, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3988px;left:2421.21px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3988px;left:2771.54px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3988px;left:3071.78px;white-space:nowrap">risk </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3988px;left:3401.72px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3988px;left:3751.96px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3988px;left:4052.2px;white-space:nowrap">agent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4238px;left:0px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4238px;left:390.06px;white-space:nowrap">default </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4238px;left:980.51px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4238px;left:1230.73px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4238px;left:1460.74px;white-space:nowrap">obligations </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4238px;left:2371.38px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4238px;left:2571.5px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4238px;left:2871.74px;white-space:nowrap">Fund. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4238px;left:3382.03px;white-space:nowrap">If </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4238px;left:3532.06px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4238px;left:3832.29px;white-space:nowrap">borrower </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4488px;left:0px;white-space:nowrap">defaults </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4488px;left:680.45px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4488px;left:930.67px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4488px;left:1160.68px;white-space:nowrap">obligation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4488px;left:1981.32px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4488px;left:2181.45px;white-space:nowrap">return </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4488px;left:2701.67px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4488px;left:3001.9px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4488px;left:3812.17px;white-space:nowrap">loaned, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4488px;left:4452.71px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4738px;left:0px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4738px;left:460.28px;white-space:nowrap">has </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4738px;left:800.51px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4738px;left:1100.74px;white-space:nowrap">right </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4738px;left:1500.91px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4738px;left:1701.04px;white-space:nowrap">repurchase </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4738px;left:2651.57px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4738px;left:2951.81px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4738px;left:3762.07px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4738px;left:3952.18px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4738px;left:4252.41px;white-space:nowrap">open </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4988px;left:0px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4988px;left:600.12px;white-space:nowrap">using </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4988px;left:1080.44px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4988px;left:1380.67px;white-space:nowrap">collateral </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4988px;left:2151.04px;white-space:nowrap">received. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4988px;left:2928.16px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4988px;left:3288.34px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4988px;left:4098.6px;white-space:nowrap">lending </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5238px;left:0px;white-space:nowrap">agent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5238px;left:500.45px;white-space:nowrap">has </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5238px;left:840.67px;white-space:nowrap">agreed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5238px;left:1451.16px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5238px;left:1651.29px;white-space:nowrap">indemnify </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5238px;left:2471.66px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5238px;left:2771.89px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5238px;left:3232.18px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5238px;left:3422.29px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5238px;left:3722.52px;white-space:nowrap">event </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5238px;left:4212.86px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5488px;left:0px;white-space:nowrap">default </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5488px;left:590.45px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5488px;left:830.57px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5488px;left:980.68px;white-space:nowrap">third </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5488px;left:1380.85px;white-space:nowrap">party </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5488px;left:1831.03px;letter-spacing:-1.1px;white-space:nowrap">borrower.</div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:5991.54px;left:0px;white-space:nowrap">e. </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:5991.54px;left:211.25px;white-space:nowrap">Marketplace </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:5991.54px;left:1362.38px;white-space:nowrap">Lending</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6322px;left:0px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6322px;left:360.18px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6322px;left:820.46px;white-space:nowrap">invests </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6322px;left:1430.68px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6322px;left:1620.79px;white-space:nowrap">loans </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6322px;left:2101.11px;white-space:nowrap">obtained </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6322px;left:2841.77px;white-space:nowrap">through </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6322px;left:3502.27px;white-space:nowrap">marketplace </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6572px;left:0px;white-space:nowrap">lending. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6572px;left:680.54px;white-space:nowrap">Marketplace </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6572px;left:1710.97px;white-space:nowrap">lending, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6572px;left:2391.5px;white-space:nowrap">sometimes </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6572px;left:3311.72px;white-space:nowrap">referred </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6572px;left:3991.99px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6572px;left:4192.12px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6822px;left:0px;white-space:nowrap">peer-to-peer </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6822px;left:1040.54px;white-space:nowrap">lending, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6822px;left:1721.07px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6822px;left:1901.07px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6822px;left:2051.19px;white-space:nowrap">method </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6822px;left:2701.58px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6822px;left:2901.71px;text-rendering:optimizeLegibility;white-space:nowrap">financing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6822px;left:3672.25px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6822px;left:3862.35px;white-space:nowrap">which </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6822px;left:4372.56px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7072px;left:0px;white-space:nowrap">platform </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7072px;left:700.22px;white-space:nowrap">facilitates </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7072px;left:1500.56px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7072px;left:1800.79px;white-space:nowrap">borrowing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7072px;left:2641.2px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7072px;left:2991.53px;white-space:nowrap">lending </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7072px;left:3622.06px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7072px;left:3822.19px;letter-spacing:-1.91px;white-space:nowrap">money. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7072px;left:4449.11px;white-space:nowrap">It </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7072px;left:4599.14px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7322px;left:0px;white-space:nowrap">considered </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7322px;left:930.59px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7322px;left:1180.81px;white-space:nowrap">alternative </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7322px;left:2061.3px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7322px;left:2261.43px;white-space:nowrap">more </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7322px;left:2721.53px;white-space:nowrap">traditional </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7322px;left:3552.01px;white-space:nowrap">forms </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7322px;left:4052.02px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7322px;left:4252.15px;white-space:nowrap">debt </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7572px;left:0px;text-rendering:optimizeLegibility;white-space:nowrap">financing. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7572px;left:820.55px;white-space:nowrap">Prospective </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7572px;left:1810.99px;white-space:nowrap">borrowers </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7572px;left:2661.24px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7572px;left:2971.41px;white-space:nowrap">required </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7572px;left:3681.83px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7572px;left:3881.95px;white-space:nowrap">provide </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7822px;left:0px;white-space:nowrap">certain </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7822px;left:590.27px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7822px;left:1300.69px;white-space:nowrap">information </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7822px;left:2241.12px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7822px;left:2441.25px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7822px;left:2741.48px;white-space:nowrap">platform, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7822px;left:3491.72px;white-space:nowrap">including, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7822px;left:4302.25px;white-space:nowrap">but </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8072px;left:0px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8072px;left:300.23px;white-space:nowrap">limited </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8072px;left:870.38px;white-space:nowrap">to, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8072px;left:1120.52px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8072px;left:1420.75px;white-space:nowrap">intended </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8072px;left:2161.41px;white-space:nowrap">purpose </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8072px;left:2861.89px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8072px;left:3062.02px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8072px;left:3362.26px;white-space:nowrap">loan, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8072px;left:3802.59px;white-space:nowrap">income, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8322px;left:0px;white-space:nowrap">employment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8322px;left:1030.43px;white-space:nowrap">information, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8322px;left:2020.87px;white-space:nowrap">credit </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8322px;left:2511.04px;white-space:nowrap">score, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8322px;left:3051.21px;white-space:nowrap">debt-to-income </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8322px;left:4301.81px;white-space:nowrap">ratio, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8572px;left:0px;white-space:nowrap">credit </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8572px;left:490.17px;white-space:nowrap">history </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8572px;left:1070.33px;white-space:nowrap">(including </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8572px;left:1890.79px;white-space:nowrap">defaults </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8572px;left:2571.24px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8572px;left:2921.57px;white-space:nowrap">delinquencies) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8572px;left:4132.35px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8822px;left:0px;white-space:nowrap">home </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8822px;left:500.27px;white-space:nowrap">ownership </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8822px;left:1370.74px;white-space:nowrap">status. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8822px;left:1951px;white-space:nowrap">Based </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8822px;left:2511.39px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8822px;left:2761.61px;white-space:nowrap">this </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8822px;left:3091.73px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8822px;left:3442.06px;white-space:nowrap">other </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8822px;left:3902.34px;white-space:nowrap">information, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9072px;left:0px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9072px;left:300.23px;white-space:nowrap">platform </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9072px;left:1000.46px;white-space:nowrap">assigns </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9072px;left:1660.78px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9072px;left:1890.79px;white-space:nowrap">own </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9072px;left:2271.01px;white-space:nowrap">credit </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9072px;left:2761.17px;white-space:nowrap">rating </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9072px;left:3261.45px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9072px;left:3461.57px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9072px;left:3761.81px;white-space:nowrap">borrower </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9072px;left:4522.06px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9322px;left:0px;white-space:nowrap">sets </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9322px;left:380.13px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9322px;left:680.36px;white-space:nowrap">interest </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9322px;left:1320.64px;white-space:nowrap">rate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9322px;left:1680.82px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9322px;left:1940.89px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9322px;left:2241.12px;white-space:nowrap">requested </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9322px;left:3091.73px;white-space:nowrap">loan. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9322px;left:3528.81px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9322px;left:3888.98px;white-space:nowrap">platform </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9572px;left:0px;white-space:nowrap">then </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9572px;left:400.34px;white-space:nowrap">posts </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9572px;left:880.58px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9572px;left:1180.81px;white-space:nowrap">borrowing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9572px;left:2021.22px;white-space:nowrap">requests </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9572px;left:2761.61px;white-space:nowrap">online, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9572px;left:3342.04px;white-space:nowrap">giving </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9572px;left:3862.35px;white-space:nowrap">investors </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9822px;left:0px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9822px;left:300.23px;white-space:nowrap">opportunity </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9822px;left:1240.84px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9822px;left:1440.97px;white-space:nowrap">purchase </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9822px;left:2231.46px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9822px;left:2531.69px;white-space:nowrap">loans </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9822px;left:3012.01px;white-space:nowrap">based </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9822px;left:3552.45px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9822px;left:3802.68px;white-space:nowrap">factors </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9822px;left:4392.86px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10072px;left:0px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10072px;left:240.12px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10072px;left:540.35px;white-space:nowrap">interest </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10072px;left:1180.63px;white-space:nowrap">rates </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10072px;left:1630.81px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10072px;left:1981.14px;white-space:nowrap">expected </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10072px;left:2761.7px;white-space:nowrap">yields </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10072px;left:3271.9px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10072px;left:3472.03px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10072px;left:3772.27px;white-space:nowrap">loans, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10072px;left:4302.6px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10322px;left:0px;white-space:nowrap">borrower </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10322px;left:760.25px;white-space:nowrap">background </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10322px;left:1750.96px;white-space:nowrap">data, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10322px;left:2201.31px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10322px;left:2551.64px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10322px;left:2851.88px;white-space:nowrap">credit </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10322px;left:3342.04px;white-space:nowrap">rating </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10322px;left:3842.31px;white-space:nowrap">assigned </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10322px;left:4612.85px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10572px;left:0px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10572px;left:300.23px;white-space:nowrap">platform. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11002px;left:0px;white-space:nowrap">&#160;When </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11002px;left:570.23px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11002px;left:870.47px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11002px;left:1330.75px;white-space:nowrap">invests </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11002px;left:1940.98px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11002px;left:2131.08px;white-space:nowrap">these </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11002px;left:2621.43px;white-space:nowrap">loans, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11002px;left:3151.76px;white-space:nowrap">it </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11002px;left:3291.77px;white-space:nowrap">usually </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11002px;left:3902.08px;white-space:nowrap">purchases </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11252px;left:0px;white-space:nowrap">all </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11252px;left:230.1px;white-space:nowrap">rights, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11252px;left:770.27px;white-space:nowrap">title </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11252px;left:1100.39px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11252px;left:1450.72px;white-space:nowrap">interest </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11252px;left:2091.01px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11252px;left:2281.11px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11252px;left:2581.35px;white-space:nowrap">loans </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11252px;left:3061.67px;white-space:nowrap">pursuant </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11252px;left:3812.17px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11252px;left:4012.29px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11252px;left:4162.41px;white-space:nowrap">loan </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11502px;left:0px;white-space:nowrap">purchase </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11502px;left:790.49px;white-space:nowrap">agreement </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11502px;left:1701.04px;white-space:nowrap">directly </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11502px;left:2321.19px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11502px;left:2731.2px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11502px;left:3031.44px;white-space:nowrap">platform. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11502px;left:3778.42px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11502px;left:4138.59px;white-space:nowrap">platform </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11752px;left:0px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11752px;left:210.06px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11752px;left:360.18px;white-space:nowrap">third-party </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11752px;left:1220.45px;white-space:nowrap">servicer </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11752px;left:1900.55px;white-space:nowrap">typically </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11752px;left:2590.75px;white-space:nowrap">continues </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11752px;left:3411.3px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11752px;left:3611.43px;white-space:nowrap">service </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11752px;left:4231.58px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:5220px;white-space:nowrap">loans, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:5750.33px;white-space:nowrap">collecting </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:6550.75px;white-space:nowrap">payments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:7381.14px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:7731.47px;white-space:nowrap">distributing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:8651.95px;white-space:nowrap">them </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:9102.13px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:9302.26px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:9602.49px;white-space:nowrap">Fund, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:5220px;white-space:nowrap">less </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:5590.11px;white-space:nowrap">any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:5930.33px;white-space:nowrap">servicing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:6690.59px;white-space:nowrap">fees </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:7080.82px;white-space:nowrap">assessed. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:7938.02px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:8298.19px;white-space:nowrap">servicer </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:8978.29px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:9158.29px;white-space:nowrap">typically </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:5220px;white-space:nowrap">responsible </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:6190.58px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:6450.64px;white-space:nowrap">taking </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:6980.98px;white-space:nowrap">actions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:7601.31px;white-space:nowrap">against </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:8231.75px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:8381.87px;white-space:nowrap">borrower </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:9142.12px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:9332.23px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:9632.46px;white-space:nowrap">event </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">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:5570.24px;white-space:nowrap">default </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:6160.69px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:6410.92px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:6711.15px;white-space:nowrap">loan. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:7151.48px;white-space:nowrap">Servicing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:7941.8px;white-space:nowrap">fees, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:8382.04px;white-space:nowrap">along </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:8872.47px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:9242.58px;white-space:nowrap">other </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:5220px;white-space:nowrap">administration </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:6390.53px;white-space:nowrap">fees, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:6830.77px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:7140.94px;white-space:nowrap">included </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:7861.46px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:8051.57px;white-space:nowrap">marketplace </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:9082px;white-space:nowrap">lending </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:9712.53px;white-space:nowrap">fees </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:5220px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:5410.11px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:5710.34px;white-space:nowrap">Statement </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:6580.81px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:6780.94px;white-space:nowrap">Operations. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:7758.19px;white-space:nowrap">The&#160;Fund, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:8628.66px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:8868.78px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:9119px;white-space:nowrap">investor </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:9799.28px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:5220px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:5370.12px;white-space:nowrap">loan, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:5810.45px;white-space:nowrap">would </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:6330.76px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:6580.99px;white-space:nowrap">entitled </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:7211.43px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:7411.55px;white-space:nowrap">receive </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:8041.82px;white-space:nowrap">payment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:8782.21px;white-space:nowrap">only </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:9162.42px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:9572.43px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:5220px;white-space:nowrap">borrower </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:5980.25px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:6330.59px;white-space:nowrap">would </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:6850.9px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:7151.13px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:7401.36px;white-space:nowrap">able </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:7791.68px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:7991.81px;white-space:nowrap">recover </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:8642.02px;white-space:nowrap">any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:8982.25px;text-rendering:optimizeLegibility;white-space:nowrap">deficiency </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:5220px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:5630.01px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:5930.24px;white-space:nowrap">platform, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:6680.48px;white-space:nowrap">except </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:7260.82px;white-space:nowrap">under </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:7771.2px;white-space:nowrap">very </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:8161.26px;white-space:nowrap">narrow </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:8761.46px;white-space:nowrap">circumstances. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:5220px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:5580.18px;white-space:nowrap">loans </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:6060.5px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:6250.61px;white-space:nowrap">which </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:6760.81px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:7061.04px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:7521.33px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:7911.39px;white-space:nowrap">invest </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:8431.61px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:8741.78px;white-space:nowrap">unsecured.</div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:2732.18px;left:5220px;white-space:nowrap">f. </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:2732.18px;left:5388.85px;white-space:nowrap">Income </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:2732.18px;left:6106.82px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:2732.18px;left:6497.4px;white-space:nowrap">Deferred </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:2732.18px;left:7331.62px;letter-spacing:-2.35px;white-space:nowrap">Taxes </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3062.64px;left:5220px;white-space:nowrap">It </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3062.64px;left:5370.03px;white-space:nowrap">is&#160;the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3062.64px;left:5850.26px;white-space:nowrap">Fund&#39;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3062.64px;left:6434.91px;white-space:nowrap">policy </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3062.64px;left:6945.12px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3062.64px;left:7145.24px;white-space:nowrap">qualify </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3062.64px;left:7715.57px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3062.64px;left:7955.68px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3062.64px;left:8105.8px;white-space:nowrap">regulated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3062.64px;left:8906.4px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3312.64px;left:5220px;white-space:nowrap">company </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3312.64px;left:6000.38px;white-space:nowrap">under </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3312.64px;left:6510.76px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3312.64px;left:6811px;white-space:nowrap">Internal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3312.64px;left:7461.39px;white-space:nowrap">Revenue </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3312.64px;left:8231.92px;letter-spacing:-0.33px;white-space:nowrap">Code.&#160;The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3312.64px;left:9119.18px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3562.64px;left:5220px;white-space:nowrap">intends </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3562.64px;left:5850.44px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3562.64px;left:6050.57px;white-space:nowrap">distribute </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3562.64px;left:6830.95px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3562.64px;left:7031.07px;white-space:nowrap">shareholders </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3562.64px;left:8121.71px;white-space:nowrap">substantially </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3562.64px;left:9162.25px;white-space:nowrap">all </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3562.64px;left:9392.34px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3562.64px;left:9592.47px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3812.64px;left:5220px;white-space:nowrap">taxable </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3812.64px;left:5850.44px;white-space:nowrap">income </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3812.64px;left:6480.7px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3812.64px;left:6831.04px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3812.64px;left:7131.27px;white-space:nowrap">realized </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3812.64px;left:7811.63px;white-space:nowrap">gains </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3812.64px;left:8291.95px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3812.64px;left:8492.08px;white-space:nowrap">relieve </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3812.64px;left:9072.33px;white-space:nowrap">it </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3812.64px;left:9212.34px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4062.64px;left:5220px;white-space:nowrap">federal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4062.64px;left:5820.38px;white-space:nowrap">income </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4062.64px;left:6450.64px;white-space:nowrap">and&#160;excise </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4062.64px;left:7361.19px;white-space:nowrap">taxes. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4062.64px;left:7881.5px;white-space:nowrap">As </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4062.64px;left:8141.57px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4062.64px;left:8291.69px;white-space:nowrap">result, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4062.64px;left:8831.87px;white-space:nowrap">no </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4062.64px;left:9082.09px;white-space:nowrap">provision </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4062.64px;left:9852.45px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4312.64px;left:5220px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4312.64px;left:5620.08px;white-space:nowrap">federal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4312.64px;left:6220.46px;white-space:nowrap">income </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4312.64px;left:6850.72px;white-space:nowrap">taxes </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4312.64px;left:7330.96px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4312.64px;left:7510.96px;white-space:nowrap">required.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4742.64px;left:5220px;white-space:nowrap">The&#160;Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4742.64px;left:6040.46px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4742.64px;left:6430.52px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4742.64px;left:6680.74px;white-space:nowrap">subject </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4742.64px;left:7301.07px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4742.64px;left:7501.2px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4742.64px;left:8101.58px;white-space:nowrap">taxation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4742.64px;left:8782.03px;white-space:nowrap">related </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4742.64px;left:9382.41px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4992.64px;left:5220px;white-space:nowrap">income </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4992.64px;left:5850.26px;white-space:nowrap">received, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4992.64px;left:6630.64px;white-space:nowrap">capital </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4992.64px;left:7200.97px;white-space:nowrap">gains </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4992.64px;left:7681.29px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4992.64px;left:7931.51px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4992.64px;left:8231.75px;white-space:nowrap">sale </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4992.64px;left:8611.96px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4992.64px;left:8812.09px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5242.64px;left:5220px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5242.64px;left:5570.33px;white-space:nowrap">certain </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5242.64px;left:6160.61px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5242.64px;left:6760.99px;white-space:nowrap">currency </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5242.64px;left:7501.2px;white-space:nowrap">transactions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5242.64px;left:8521.7px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5242.64px;left:8711.81px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5242.64px;left:9012.04px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5492.64px;left:5220px;white-space:nowrap">jurisdictions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5492.64px;left:6210.35px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5492.64px;left:6400.46px;white-space:nowrap">which </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5492.64px;left:6910.66px;white-space:nowrap">it </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5492.64px;left:7050.67px;white-space:nowrap">invests. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5492.64px;left:7710.91px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5492.64px;left:8371.23px;white-space:nowrap">taxes, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5492.64px;left:8901.47px;white-space:nowrap">if </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5492.64px;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:5492.64px;left:9418.36px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5742.64px;left:5220px;white-space:nowrap">recorded </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5742.64px;left:5980.43px;white-space:nowrap">based </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5742.64px;left:6520.87px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5742.64px;left:6771.09px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5742.64px;left:7071.33px;white-space:nowrap">tax </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5742.64px;left:7361.46px;white-space:nowrap">regulations </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5742.64px;left:8292.04px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5742.64px;left:8642.37px;white-space:nowrap">rates </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5742.64px;left:9092.55px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5742.64px;left:9442.79px;white-space:nowrap">exist </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5992.64px;left:5220px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5992.64px;left:5410.11px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5992.64px;left:5710.34px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5992.64px;left:6310.72px;white-space:nowrap">markets </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5992.64px;left:7000.84px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5992.64px;left:7190.95px;white-space:nowrap">which </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5992.64px;left:7701.15px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5992.64px;left:8001.39px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5992.64px;left:8461.67px;white-space:nowrap">invests. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5992.64px;left:9121.9px;white-space:nowrap">When </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5992.64px;left:9642.13px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6242.64px;left:5220px;white-space:nowrap">capital </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6242.64px;left:5790.32px;white-space:nowrap">gain </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6242.64px;left:6180.64px;white-space:nowrap">tax </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6242.64px;left:6470.77px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6242.64px;left:6650.77px;white-space:nowrap">determined </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6242.64px;left:7601.31px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6242.64px;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:6242.64px;left:8318.41px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6242.64px;left:8618.64px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6242.64px;left:9078.93px;white-space:nowrap">records </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6242.64px;left:9729.14px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6492.64px;left:5220px;white-space:nowrap">estimated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6492.64px;left:6050.39px;white-space:nowrap">deferred </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6492.64px;left:6770.83px;white-space:nowrap">tax </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6492.64px;left:7060.96px;white-space:nowrap">liability </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6492.64px;left:7651.14px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6492.64px;left:7841.25px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6492.64px;left:8091.47px;white-space:nowrap">amount </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6492.64px;left:8741.87px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6492.64px;left:9092.11px;white-space:nowrap">would </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6492.64px;left:9612.42px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6742.64px;left:5220px;white-space:nowrap">payable </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6742.64px;left:5900.54px;white-space:nowrap">if </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6742.64px;left:6040.55px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6742.64px;left:6340.78px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6742.64px;left:7151.04px;white-space:nowrap">were </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6742.64px;left:7591.2px;white-space:nowrap">disposed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6742.64px;left:8361.74px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6742.64px;left:8561.87px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6742.64px;left:8812.09px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6742.64px;left:9112.32px;white-space:nowrap">valuation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6992.64px;left:5220px;white-space:nowrap">date.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7422.64px;left:5220px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7422.64px;left:5580.18px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7422.64px;left:6040.46px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7422.64px;left:6430.52px;white-space:nowrap">recognize </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7422.64px;left:7261px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7422.64px;left:7511.22px;white-space:nowrap">income </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7422.64px;left:8141.48px;white-space:nowrap">tax </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7422.64px;left:8431.61px;white-space:nowrap">liability </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7422.64px;left:9021.8px;white-space:nowrap">related </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7422.64px;left:9622.18px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7422.64px;left:9822.3px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7672.64px;left:5220px;white-space:nowrap">uncertain </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7672.64px;left:6010.49px;white-space:nowrap">tax </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7672.64px;left:6300.62px;white-space:nowrap">positions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7672.64px;left:7061.04px;white-space:nowrap">under </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7672.64px;left:7571.43px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7672.64px;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:7672.64px;left:8518.45px;white-space:nowrap">when </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7672.64px;left:8998.77px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7672.64px;left:9299px;white-space:nowrap">uncertain </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7922.64px;left:5220px;white-space:nowrap">tax </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7922.64px;left:5510.13px;white-space:nowrap">position </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7922.64px;left:6180.56px;white-space:nowrap">has </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7922.64px;left:6520.78px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7922.64px;left:6670.9px;white-space:nowrap">less </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7922.64px;left:7041.01px;white-space:nowrap">than </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7922.64px;left:7441.35px;white-space:nowrap">50% </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7922.64px;left:7851.62px;white-space:nowrap">probability </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7922.64px;left:8722.09px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7922.64px;left:9072.33px;white-space:nowrap">it </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7922.64px;left:9212.34px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7922.64px;left:9512.31px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8172.64px;left:5220px;white-space:nowrap">sustained </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8172.64px;left:6040.55px;white-space:nowrap">upon </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8172.64px;left:6490.99px;white-space:nowrap">examination </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8172.64px;left:7511.57px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8172.64px;left:7751.69px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8172.64px;left:8051.92px;white-space:nowrap">tax </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8172.64px;left:8342.05px;white-space:nowrap">authorities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8172.64px;left:9222.54px;white-space:nowrap">based </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8422.64px;left:5220px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8422.64px;left:5470.22px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8422.64px;left:5700.23px;white-space:nowrap">technical </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8422.64px;left:6460.66px;white-space:nowrap">merits. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8422.64px;left:7040.74px;white-space:nowrap">As </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8422.64px;left:7300.81px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8422.64px;left:7500.94px;white-space:nowrap">February </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8422.64px;left:8271.21px;white-space:nowrap">28, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8422.64px;left:8571.45px;white-space:nowrap">2021, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8422.64px;left:9071.89px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8422.64px;left:9372.13px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8672.64px;left:5220px;white-space:nowrap">has </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8672.64px;left:5560.22px;white-space:nowrap">determined </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8672.64px;left:6510.76px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8672.64px;left:6861.01px;white-space:nowrap">no </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8672.64px;left:7111.23px;white-space:nowrap">tax </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8672.64px;left:7401.36px;white-space:nowrap">liability </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8672.64px;left:7991.54px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8672.64px;left:8171.54px;white-space:nowrap">required </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8672.64px;left:8881.96px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8672.64px;left:9072.07px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8672.64px;left:9302.08px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8922.64px;left:5220px;white-space:nowrap">statements </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8922.64px;left:6150.41px;white-space:nowrap">related </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8922.64px;left:6750.79px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8922.64px;left:6950.92px;white-space:nowrap">uncertain </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8922.64px;left:7741.41px;white-space:nowrap">tax </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8922.64px;left:8031.53px;white-space:nowrap">positions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8922.64px;left:8791.96px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8922.64px;left:9052.03px;white-space:nowrap">any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8922.64px;left:9392.26px;white-space:nowrap">open </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9172.64px;left:5220px;white-space:nowrap">tax </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9172.64px;left:5510.13px;white-space:nowrap">years </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9172.64px;left:6000.29px;white-space:nowrap">(or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9172.64px;left:6270.29px;white-space:nowrap">expected </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9172.64px;left:7050.85px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9172.64px;left:7250.98px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9172.64px;left:7501.2px;white-space:nowrap">taken </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9172.64px;left:7991.54px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9172.64px;left:8181.65px;white-space:nowrap">future </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9172.64px;left:8691.94px;white-space:nowrap">tax </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9172.64px;left:8982.07px;white-space:nowrap">years). </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9172.64px;left:9582.19px;white-space:nowrap">Open </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9422.64px;left:5220px;white-space:nowrap">tax </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9422.64px;left:5510.13px;white-space:nowrap">years </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9422.64px;left:6000.29px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9422.64px;left:6310.46px;white-space:nowrap">those </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9422.64px;left:6800.8px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9422.64px;left:7151.04px;white-space:nowrap">remain </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9422.64px;left:7751.25px;white-space:nowrap">subject </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9422.64px;left:8371.58px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9422.64px;left:8571.71px;white-space:nowrap">examination </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9422.64px;left:9592.29px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9672.64px;left:5220px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9672.64px;left:5530.17px;white-space:nowrap">based </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9672.64px;left:6070.61px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9672.64px;left:6320.83px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9672.64px;left:6621.06px;white-space:nowrap">statute </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9672.64px;left:7211.43px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9672.64px;left:7411.55px;white-space:nowrap">limitations </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9672.64px;left:8261.81px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9672.64px;left:8451.91px;white-space:nowrap">each </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9672.64px;left:8892.25px;white-space:nowrap">jurisdiction </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9672.64px;left:9792.6px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9922.64px;left:5220px;white-space:nowrap">which </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9922.64px;left:5730.21px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9922.64px;left:6030.44px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9922.64px;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:10426.18px;left:5220px;white-space:nowrap">g. </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:10426.18px;left:5441.64px;white-space:nowrap">Security </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:10426.18px;left:6244.22px;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:10426.18px;left:7521.89px;white-space:nowrap">Investment </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:10426.18px;left:8577.75px;white-space:nowrap">Income, </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:10686.18px;left:5220px;white-space:nowrap">Expenses </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:10686.18px;left:6159.98px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:10686.18px;left:6550.56px;white-space:nowrap">Distributions</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11016.64px;left:5220px;white-space:nowrap">Security </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11016.64px;left:5920.22px;white-space:nowrap">transactions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11016.64px;left:6940.72px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11016.64px;left:7250.89px;white-space:nowrap">accounted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11016.64px;left:8131.55px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11016.64px;left:8391.62px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11016.64px;left:8641.85px;white-space:nowrap">trade </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11016.64px;left:9102.13px;white-space:nowrap">date. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11266.64px;left:5220px;white-space:nowrap">Realized </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11266.64px;left:5970.41px;white-space:nowrap">gains </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11266.64px;left:6450.73px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11266.64px;left:6801.06px;white-space:nowrap">losses </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11266.64px;left:7361.28px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11266.64px;left:7611.5px;white-space:nowrap">security </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11266.64px;left:8281.67px;white-space:nowrap">transactions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11266.64px;left:9302.17px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11516.64px;left:5220px;white-space:nowrap">determined </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11516.64px;left:6170.54px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11516.64px;left:6420.76px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11516.64px;left:6570.88px;text-rendering:optimizeLegibility;white-space:nowrap">specific </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11516.64px;left:7221.09px;text-rendering:optimizeLegibility;white-space:nowrap">identification </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11516.64px;left:8271.74px;white-space:nowrap">basis. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11516.64px;left:8791.96px;white-space:nowrap">Interest </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11516.64px;left:9442.27px;white-space:nowrap">income </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11766.64px;left:5220px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11766.64px;left:5570.33px;white-space:nowrap">estimated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11766.64px;left:6400.72px;white-space:nowrap">expenses </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11766.64px;left:7221.27px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11766.64px;left:7531.44px;white-space:nowrap">accrued </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11766.64px;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:11766.64px;left:8668.74px;white-space:nowrap">Amortization </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11766.64px;left:9719.12px;white-space:nowrap">of </div></div>
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			<div style="width:4860px;height:818px;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">d. </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">Securities </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:657.54px;left:1182.68px;white-space:nowrap">Lending </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:682.94px;left:1974.22px;white-space:nowrap">(continued)</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">premium </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1248px;left:750.15px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1248px;left:1100.48px;white-space:nowrap">accretion </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1248px;left:1880.86px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1248px;left:2080.99px;white-space:nowrap">discount </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1248px;left:2801.43px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1248px;left:3051.65px;white-space:nowrap">debt </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1248px;left:3451.99px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1248px;left:4262.26px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1498px;left:0px;white-space:nowrap">included </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1498px;left:720.53px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1498px;left:910.63px;white-space:nowrap">interest </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1498px;left:1550.92px;white-space:nowrap">income. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1498px;left:2231.19px;white-space:nowrap">Dividend </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1498px;left:2981.6px;white-space:nowrap">income </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1498px;left:3611.87px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1498px;left:3791.87px;white-space:nowrap">recorded </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1748px;left:0px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1748px;left:250.22px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1748px;left:550.46px;white-space:nowrap">ex-dividend </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1748px;left:1521.04px;white-space:nowrap">date </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1748px;left:1921.38px;white-space:nowrap">except </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1748px;left:2501.72px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1748px;left:2761.79px;white-space:nowrap">certain </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1748px;left:3352.06px;white-space:nowrap">dividends </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1748px;left:4162.59px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1998px;left:0px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1998px;left:810.26px;white-space:nowrap">where </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1998px;left:1350.53px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1998px;left:1650.76px;white-space:nowrap">dividend </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1998px;left:2371.29px;white-space:nowrap">rate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1998px;left:2731.46px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1998px;left:2911.46px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1998px;left:3211.7px;white-space:nowrap">available. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1998px;left:4022.23px;white-space:nowrap">In </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1998px;left:4222.35px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2248px;left:0px;white-space:nowrap">cases, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2248px;left:570.23px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2248px;left:870.47px;white-space:nowrap">dividend </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2248px;left:1591px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2248px;left:1771px;white-space:nowrap">recorded </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2248px;left:2531.43px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2248px;left:2771.54px;white-space:nowrap">soon </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2248px;left:3211.88px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2248px;left:3451.99px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2248px;left:3752.23px;white-space:nowrap">information </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2498px;left:0px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2498px;left:180px;white-space:nowrap">received </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2498px;left:910.37px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2498px;left:1150.49px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2498px;left:1450.72px;white-space:nowrap">Fund. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2498px;left:1961.02px;white-space:nowrap">Distributions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2498px;left:3001.38px;white-space:nowrap">to&#160;shareholders </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2498px;left:4292.14px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2748px;left:0px;white-space:nowrap">recorded </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2748px;left:760.43px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2748px;left:1010.65px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2748px;left:1310.89px;white-space:nowrap">ex-dividend </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2748px;left:2281.46px;white-space:nowrap">date. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2748px;left:2731.82px;white-space:nowrap">Distributable </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2748px;left:3782.29px;white-space:nowrap">earnings </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2998px;left:0px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2998px;left:310.17px;white-space:nowrap">determined </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2998px;left:1260.7px;white-space:nowrap">according </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2998px;left:2091.18px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2998px;left:2291.31px;white-space:nowrap">income </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2998px;left:2921.57px;white-space:nowrap">tax </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2998px;left:3211.7px;white-space:nowrap">regulations </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2998px;left:4142.29px;white-space:nowrap">(tax </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3248px;left:0px;white-space:nowrap">basis) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3248px;left:530.16px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3248px;left:880.49px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3248px;left:1270.55px;letter-spacing:-0.46px;white-space:nowrap">differ </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3248px;left:1717.47px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3248px;left:2127.48px;white-space:nowrap">earnings </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3248px;left:2867.96px;white-space:nowrap">recorded </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3248px;left:3628.39px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3248px;left:3818.5px;white-space:nowrap">accordance </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3498px;left:0px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3498px;left:370.11px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3498px;left:770.19px;letter-spacing:-3.87px;white-space:nowrap">GAAP. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3498px;left:1343.94px;white-space:nowrap">These </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3498px;left:1894.22px;letter-spacing:-0.27px;white-space:nowrap">differences </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3498px;left:2821.46px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3498px;left:3211.52px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3498px;left:3461.75px;white-space:nowrap">permanent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3498px;left:4372.29px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3748px;left:0px;letter-spacing:-1.21px;white-space:nowrap">temporary. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3748px;left:896.92px;white-space:nowrap">Permanent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3748px;left:1827.42px;letter-spacing:-0.27px;white-space:nowrap">differences </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3748px;left:2754.67px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3748px;left:3064.83px;text-rendering:optimizeLegibility;white-space:nowrap">reclassified </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3748px;left:4015.2px;white-space:nowrap">among </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3998px;left:0px;white-space:nowrap">capital </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3998px;left:570.32px;white-space:nowrap">accounts </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3998px;left:1340.77px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3998px;left:1540.9px;text-rendering:optimizeLegibility;white-space:nowrap">reflect </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3998px;left:2081.07px;white-space:nowrap">their </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3998px;left:2481.24px;white-space:nowrap">tax </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3998px;left:2771.37px;letter-spacing:-0.9px;white-space:nowrap">character. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3998px;left:3608.53px;white-space:nowrap">These </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4248px;left:0px;text-rendering:optimizeLegibility;white-space:nowrap">reclassifications </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4248px;left:1320.47px;white-space:nowrap">have </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4248px;left:1760.8px;white-space:nowrap">no </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4248px;left:2011.03px;white-space:nowrap">impact </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4248px;left:2591.19px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4248px;left:2841.42px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4248px;left:3141.65px;white-space:nowrap">assets </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4248px;left:3711.88px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4248px;left:3921.94px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4248px;left:4222.18px;white-space:nowrap">results </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4498px;left:0px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4498px;left:200.13px;white-space:nowrap">operations. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4498px;left:1137.48px;letter-spacing:-2px;white-space:nowrap">Temporary </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4498px;left:2037.74px;letter-spacing:-0.27px;white-space:nowrap">differences </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4498px;left:2964.99px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4498px;left:3275.16px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4498px;left:3575.39px;text-rendering:optimizeLegibility;white-space:nowrap">reclassified, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4498px;left:4575.76px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4748px;left:0px;white-space:nowrap">they </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4748px;left:390.23px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4748px;left:780.29px;white-space:nowrap">reverse </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4748px;left:1430.51px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4748px;left:1620.62px;white-space:nowrap">subsequent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4748px;left:2601.39px;white-space:nowrap">periods.</div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:-22.54px;left:5220px;white-space:nowrap">h. </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:-22.54px;left:5434.58px;white-space:nowrap">Accounting </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:-22.54px;left:6532.28px;white-space:nowrap">Estimates</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:307.92px;left:5220px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:307.92px;left:5580.18px;white-space:nowrap">preparation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:307.92px;left:6540.82px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:307.92px;left:6740.95px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:307.92px;left:7451.37px;white-space:nowrap">statements </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:307.92px;left:8381.78px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:307.92px;left:8571.88px;white-space:nowrap">accordance </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:307.92px;left:9552.48px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:557.92px;left:5220px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:557.92px;left:5620.08px;letter-spacing:-0.65px;white-space:nowrap">GAAP </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:557.92px;left:6167.02px;white-space:nowrap">requires </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:557.92px;left:6867.33px;white-space:nowrap">management </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:557.92px;left:7967.99px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:557.92px;left:8168.12px;white-space:nowrap">make </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:557.92px;left:8658.28px;white-space:nowrap">estimates </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:557.92px;left:9478.56px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:807.92px;left:5220px;white-space:nowrap">assumptions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:807.92px;left:6280.49px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:807.92px;left:6630.73px;letter-spacing:-0.46px;white-space:nowrap">affect </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:807.92px;left:7117.73px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:807.92px;left:7417.97px;white-space:nowrap">reported </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:807.92px;left:8138.41px;white-space:nowrap">amounts </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:807.92px;left:8878.8px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:807.92px;left:9078.93px;white-space:nowrap">assets </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1057.92px;left:5220px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1057.92px;left:5570.33px;white-space:nowrap">liabilities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1057.92px;left:6300.62px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1057.92px;left:6500.74px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1057.92px;left:6800.98px;white-space:nowrap">date </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1057.92px;left:7201.32px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1057.92px;left:7401.45px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1057.92px;left:7701.68px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1057.92px;left:8412.1px;white-space:nowrap">statements </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1057.92px;left:9342.51px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1307.92px;left:5220px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1307.92px;left:5520.23px;white-space:nowrap">amounts </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1307.92px;left:6260.62px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1307.92px;left:6460.75px;white-space:nowrap">income </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1307.92px;left:7091.02px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1307.92px;left:7441.35px;white-space:nowrap">expenses </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1307.92px;left:8261.89px;white-space:nowrap">during </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1307.92px;left:8812.27px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1307.92px;left:9112.5px;white-space:nowrap">reporting </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1557.92px;left:5220px;white-space:nowrap">period. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1557.92px;left:5810.45px;white-space:nowrap">Actual </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1557.92px;left:6360.73px;white-space:nowrap">results </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1557.92px;left:6940.9px;white-space:nowrap">could </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1557.92px;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:1557.92px;left:7868.14px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1557.92px;left:8278.15px;white-space:nowrap">those </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1557.92px;left:8768.5px;white-space:nowrap">estimates.</div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:2061.46px;left:5220px;white-space:nowrap">i. </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:2061.46px;left:5378.36px;white-space:nowrap">Guarantees </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:2061.46px;left:6476.62px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:2061.46px;left:6867.19px;text-rendering:optimizeLegibility;white-space:nowrap">Indemnifications</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2391.92px;left:5220px;white-space:nowrap">Under </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2391.92px;left:5760.26px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2391.92px;left:6060.5px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2391.92px;left:6647.52px;white-space:nowrap">organizational </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2391.92px;left:7818.31px;white-space:nowrap">documents, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2391.92px;left:8798.82px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2391.92px;left:9028.83px;text-rendering:optimizeLegibility;white-space:nowrap">officers </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2641.92px;left:5220px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2641.92px;left:5570.33px;white-space:nowrap">trustees </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2641.92px;left:6260.62px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2641.92px;left:6570.79px;text-rendering:optimizeLegibility;white-space:nowrap">indemnified </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2641.92px;left:7541.37px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2641.92px;left:7781.48px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2641.92px;left:8081.72px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2641.92px;left:8542px;white-space:nowrap">against </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2641.92px;left:9172.44px;white-space:nowrap">certain </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2891.92px;left:5220px;white-space:nowrap">liabilities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2891.92px;left:5950.28px;white-space:nowrap">arising </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2891.92px;left:6530.54px;white-space:nowrap">out </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2891.92px;left:6830.77px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2891.92px;left:7030.9px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2891.92px;left:7331.13px;white-space:nowrap">performance </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2891.92px;left:8391.62px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2891.92px;left:8591.75px;white-space:nowrap">their </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2891.92px;left:8991.91px;white-space:nowrap">duties </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2891.92px;left:9522.25px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3141.92px;left:5220px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3141.92px;left:5520.23px;white-space:nowrap">Fund. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3141.92px;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:3141.92px;left:7027.82px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3141.92px;left:7217.93px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3141.92px;left:7518.16px;white-space:nowrap">normal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3141.92px;left:8118.37px;white-space:nowrap">course </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3141.92px;left:8708.64px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3141.92px;left:8908.77px;white-space:nowrap">business, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3141.92px;left:9719.21px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3391.92px;left:5220px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3391.92px;left:5680.28px;white-space:nowrap">enters </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3391.92px;left:6230.57px;white-space:nowrap">into </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3391.92px;left:6570.79px;white-space:nowrap">contracts </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3391.92px;left:7351.08px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3391.92px;left:7721.19px;white-space:nowrap">service </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3391.92px;left:8341.35px;white-space:nowrap">providers </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3391.92px;left:9131.66px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3391.92px;left:9481.9px;white-space:nowrap">contain </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3641.92px;left:5220px;white-space:nowrap">general </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3641.92px;left:5870.48px;text-rendering:optimizeLegibility;white-space:nowrap">indemnification </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3641.92px;left:7121.16px;white-space:nowrap">clauses. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3641.92px;left:7828.24px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3641.92px;left:8188.42px;letter-spacing:-0.3px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3641.92px;left:8775.44px;white-space:nowrap">maximum </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3891.92px;left:5220px;white-space:nowrap">exposure </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3891.92px;left:6010.49px;white-space:nowrap">under </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3891.92px;left:6520.87px;white-space:nowrap">these </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3891.92px;left:7011.21px;white-space:nowrap">arrangements </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3891.92px;left:8171.81px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3891.92px;left:8351.81px;white-space:nowrap">unknown </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3891.92px;left:9122.34px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3891.92px;left:9362.46px;white-space:nowrap">this </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4141.92px;left:5220px;white-space:nowrap">would </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4141.92px;left:5740.31px;white-space:nowrap">involve </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4141.92px;left:6350.62px;white-space:nowrap">future </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4141.92px;left:6860.92px;white-space:nowrap">claims </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4141.92px;left:7420.96px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4141.92px;left:7771.2px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4141.92px;left:8161.26px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4141.92px;left:8411.48px;white-space:nowrap">made </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4141.92px;left:8911.76px;white-space:nowrap">against </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4141.92px;left:9542.2px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4391.92px;left:5220px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4391.92px;left:5680.28px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4391.92px;left:6030.53px;white-space:nowrap">have </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4391.92px;left:6470.86px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4391.92px;left:6771.09px;white-space:nowrap">yet </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4391.92px;left:7061.22px;white-space:nowrap">occurred. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4391.92px;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:4391.92px;left:8678.41px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4391.92px;left:8978.64px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4391.92px;left:9438.93px;white-space:nowrap">expects </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4641.92px;left:5220px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4641.92px;left:5520.23px;white-space:nowrap">risk </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4641.92px;left:5850.18px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4641.92px;left:6050.3px;white-space:nowrap">loss </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4641.92px;left:6420.41px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4641.92px;left:6620.54px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4641.92px;left:6870.76px;white-space:nowrap">remote.</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:5331.07px;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:5331.07px;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:5331.07px;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:5331.07px;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:5331.07px;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:5698.8px;left:0px;white-space:nowrap">At </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5698.8px;left:220.08px;white-space:nowrap">February </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5698.8px;left:990.35px;white-space:nowrap">28, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5698.8px;left:1290.59px;white-space:nowrap">2021, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5698.8px;left:1791.04px;white-space:nowrap">there </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5698.8px;left:2251.32px;white-space:nowrap">were </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5698.8px;left:2691.47px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5698.8px;left:2941.7px;white-space:nowrap">unlimited </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5698.8px;left:3712.06px;white-space:nowrap">number </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5698.8px;left:4372.38px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5698.8px;left:4572.51px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5698.8px;left:5162.78px;white-space:nowrap">authorized </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5698.8px;left:6053.38px;white-space:nowrap">($0.01 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5698.8px;left:6613.77px;white-space:nowrap">par </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5698.8px;left:6923.94px;white-space:nowrap">value). </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5698.8px;left:7514.21px;white-space:nowrap">During </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5698.8px;left:8094.46px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5698.8px;left:8394.7px;white-space:nowrap">periods&#160;ended </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5948.8px;left:0px;white-space:nowrap">February </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5948.8px;left:770.27px;white-space:nowrap">28, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5948.8px;left:1070.51px;white-space:nowrap">2021 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5948.8px;left:1520.95px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5948.8px;left:1861.35px;white-space:nowrap">August </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5948.8px;left:2471.75px;white-space:nowrap">31, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5948.8px;left:2771.98px;white-space:nowrap">2020 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5948.8px;left:3222.42px;white-space:nowrap">there </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5948.8px;left:3682.71px;white-space:nowrap">were </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5948.8px;left:4122.86px;white-space:nowrap">no </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5948.8px;left:4373.09px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5948.8px;left:4963.36px;white-space:nowrap">issued; </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5948.8px;left:5583.69px;white-space:nowrap">all </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5948.8px;left:5813.79px;white-space:nowrap">reinvested </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5948.8px;left:6694.28px;white-space:nowrap">distributions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5948.8px;left:7704.76px;white-space:nowrap">were </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5948.8px;left:8144.91px;text-rendering:optimizeLegibility;white-space:nowrap">satisfied </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5948.8px;left:8855.24px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5948.8px;left:9225.35px;white-space:nowrap">previously </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6198.8px;left:0px;white-space:nowrap">issued </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6198.8px;left:570.32px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6198.8px;left:1160.6px;white-space:nowrap">purchased </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6198.8px;left:2051.19px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6198.8px;left:2241.3px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6198.8px;left:2541.53px;white-space:nowrap">open </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6198.8px;left:2991.97px;white-space:nowrap">market.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6628.8px;left:0px;white-space:nowrap">Under </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6628.8px;left:540.26px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6628.8px;left:840.5px;white-space:nowrap">Board </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6628.8px;left:1370.83px;white-space:nowrap">approved </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6628.8px;left:2171.43px;white-space:nowrap">open-market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6628.8px;left:3231.91px;white-space:nowrap">share </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6628.8px;left:3732.19px;white-space:nowrap">repurchase </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6628.8px;left:4682.72px;white-space:nowrap">program, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6628.8px;left:5453px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6628.8px;left:5753.23px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6628.8px;left:6213.52px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6628.8px;left:6603.57px;white-space:nowrap">purchase, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6628.8px;left:7444.07px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6628.8px;left:7854.08px;white-space:nowrap">time </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6628.8px;left:8244.14px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6628.8px;left:8444.27px;white-space:nowrap">time, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6628.8px;left:8884.34px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6628.8px;left:9344.62px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6878.8px;left:0px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6878.8px;left:190.11px;white-space:nowrap">open-market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6878.8px;left:1250.6px;white-space:nowrap">transactions, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6878.8px;left:2321.1px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6878.8px;left:2521.23px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6878.8px;left:2821.46px;white-space:nowrap">discretion </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6878.8px;left:3641.84px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6878.8px;left:3841.96px;white-space:nowrap">management. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6878.8px;left:4992.63px;white-space:nowrap">During </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6878.8px;left:5572.88px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6878.8px;left:5873.12px;white-space:nowrap">periods&#160;ended </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6878.8px;left:7064.03px;white-space:nowrap">February </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6878.8px;left:7834.31px;white-space:nowrap">28, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6878.8px;left:8134.54px;white-space:nowrap">2021 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6878.8px;left:8584.98px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6878.8px;left:8925.38px;white-space:nowrap">August </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6878.8px;left:9535.78px;white-space:nowrap">31, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7128.8px;left:0px;white-space:nowrap">2020, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7128.8px;left:500.45px;white-space:nowrap">there </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7128.8px;left:960.73px;white-space:nowrap">were </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7128.8px;left:1400.89px;white-space:nowrap">no </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7128.8px;left:1651.11px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7128.8px;left:2241.39px;white-space:nowrap">repurchased.</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:7711.87px;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:7711.87px;left:210.36px;letter-spacing:-3.43px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:7711.87px;left:860.29px;letter-spacing:-3.33px;white-space:nowrap">Fixed </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:7711.87px;left:1414.22px;letter-spacing:-3.2px;white-space:nowrap">Rate </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:7711.87px;left:1883.29px;letter-spacing:-3.2px;white-space:nowrap">Notes</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8079.6px;left:0px;white-space:nowrap">&#160;On </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8079.6px;left:330.21px;white-space:nowrap">August </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8079.6px;left:940.61px;white-space:nowrap">28, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8079.6px;left:1240.84px;white-space:nowrap">2018, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8079.6px;left:1741.29px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8079.6px;left:2041.52px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8079.6px;left:2501.81px;white-space:nowrap">issued </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8079.6px;left:3072.13px;white-space:nowrap">$65 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8079.6px;left:3422.46px;white-space:nowrap">million </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8079.6px;left:3982.59px;white-space:nowrap">principal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8079.6px;left:4702.94px;white-space:nowrap">amount </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8079.6px;left:5353.33px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8079.6px;left:5553.46px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8079.6px;left:5703.57px;white-space:nowrap">new </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8079.6px;left:6083.79px;white-space:nowrap">class </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8079.6px;left:6543.9px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8079.6px;left:6744.02px;text-rendering:optimizeLegibility;white-space:nowrap">five-year </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8079.6px;left:7484.24px;white-space:nowrap">senior </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8079.6px;left:8024.5px;text-rendering:optimizeLegibility;white-space:nowrap">fixed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8079.6px;left:8454.73px;white-space:nowrap">rate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8079.6px;left:8814.9px;white-space:nowrap">notes </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8079.6px;left:9305.24px;white-space:nowrap">(Notes). </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8329.6px;left:0px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8329.6px;left:359.75px;letter-spacing:0px;white-space:nowrap">Notes </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8329.6px;left:879.55px;white-space:nowrap">bear </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8329.6px;left:1289.39px;white-space:nowrap">interest, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8329.6px;left:1979.26px;letter-spacing:0px;white-space:nowrap">payable </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8329.6px;left:2659.37px;letter-spacing:-0.89px;white-space:nowrap">semi-annually, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8329.6px;left:3856.1px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8329.6px;left:4055.8px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8329.6px;left:4205.49px;white-space:nowrap">rate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8329.6px;left:4565.24px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8329.6px;left:4764.94px;letter-spacing:0px;white-space:nowrap">3.91% </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8329.6px;left:5324.9px;white-space:nowrap">per </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8329.6px;left:5634.64px;letter-spacing:-1.66px;white-space:nowrap">year, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8329.6px;left:6074.46px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8329.6px;left:6274.16px;white-space:nowrap">maturity </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8329.6px;left:6963.85px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8329.6px;left:7213.65px;white-space:nowrap">September </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8329.6px;left:8143.72px;white-space:nowrap">15, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8329.6px;left:8443.53px;white-space:nowrap">2023. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8329.6px;left:8940.3px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8329.6px;left:9300.05px;white-space:nowrap">Notes </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8329.6px;left:9819.84px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8579.6px;left:0px;white-space:nowrap">general </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8579.6px;left:650.48px;white-space:nowrap">unsecured </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8579.6px;left:1541.07px;white-space:nowrap">obligations </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8579.6px;left:2451.71px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8579.6px;left:2651.84px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8579.6px;left:2952.07px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8579.6px;left:3412.35px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8579.6px;left:3762.69px;white-space:nowrap">rank </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8579.6px;left:4162.85px;white-space:nowrap">senior </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8579.6px;left:4703.12px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8579.6px;left:4903.24px;white-space:nowrap">trust </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8579.6px;left:5303.32px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8579.6px;left:5893.59px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8579.6px;left:6243.93px;white-space:nowrap">all </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8579.6px;left:6474.02px;white-space:nowrap">existing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8579.6px;left:7134.35px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8579.6px;left:7344.4px;white-space:nowrap">future </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8579.6px;left:7854.7px;white-space:nowrap">unsecured </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8579.6px;left:8745.29px;white-space:nowrap">indebtedness </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8829.6px;left:0px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8829.6px;left:200.13px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8829.6px;left:500.36px;white-space:nowrap">Fund. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8829.6px;left:1010.65px;white-space:nowrap">For </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8829.6px;left:1330.66px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8829.6px;left:1630.9px;white-space:nowrap">period </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8829.6px;left:2181.27px;white-space:nowrap">ended </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8829.6px;left:2731.82px;white-space:nowrap">February </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8829.6px;left:3502.09px;white-space:nowrap">28, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8829.6px;left:3802.32px;white-space:nowrap">2021, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8829.6px;left:4302.77px;white-space:nowrap">total </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8829.6px;left:4693.01px;white-space:nowrap">interest </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8829.6px;left:5333.29px;white-space:nowrap">paid </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8829.6px;left:5723.61px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8829.6px;left:5963.73px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8829.6px;left:6263.96px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8829.6px;left:6724.25px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8829.6px;left:6974.47px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8829.6px;left:7274.71px;white-space:nowrap">Notes </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8829.6px;left:7794.93px;white-space:nowrap">was </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8829.6px;left:8165.04px;white-space:nowrap">$1,270,749. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8829.6px;left:9162.69px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8829.6px;left:9522.86px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9079.6px;left:0px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9079.6px;left:180px;white-space:nowrap">required </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9079.6px;left:890.42px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9079.6px;left:1090.55px;white-space:nowrap">maintain </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9079.6px;left:1820.92px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9079.6px;left:2071.14px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9079.6px;left:2221.26px;white-space:nowrap">monthly </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9079.6px;left:2901.53px;white-space:nowrap">basis </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9079.6px;left:3371.75px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9079.6px;left:3521.87px;text-rendering:optimizeLegibility;white-space:nowrap">specified </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9079.6px;left:4282.29px;white-space:nowrap">discounted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9079.6px;left:5202.95px;white-space:nowrap">asset </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9079.6px;left:5683.18px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9079.6px;left:6163.51px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9079.6px;left:6423.57px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9079.6px;left:6653.58px;white-space:nowrap">portfolio </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9079.6px;left:7343.96px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9079.6px;left:7534.07px;white-space:nowrap">compliance </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9079.6px;left:8494.54px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9079.6px;left:8864.65px;white-space:nowrap">guidelines </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9329.6px;left:0px;white-space:nowrap">established </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9329.6px;left:960.64px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9329.6px;left:1150.75px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9329.6px;left:1450.99px;white-space:nowrap">Notes </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9329.6px;left:1961.28px;white-space:nowrap">Agreement, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9329.6px;left:2941.79px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9329.6px;left:3292.12px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9329.6px;left:3472.12px;white-space:nowrap">required </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9329.6px;left:4182.54px;white-space:nowrap">under </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9329.6px;left:4692.92px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9329.6px;left:4993.15px;white-space:nowrap">1940 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9329.6px;left:5433.66px;white-space:nowrap">Act </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9329.6px;left:5743.74px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9329.6px;left:5943.87px;white-space:nowrap">maintain </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9329.6px;left:6674.24px;white-space:nowrap">asset </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9329.6px;left:7154.47px;white-space:nowrap">coverage </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9329.6px;left:7944.96px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9329.6px;left:8205.03px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9329.6px;left:8505.26px;white-space:nowrap">Notes </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9329.6px;left:9025.49px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9329.6px;left:9225.62px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9329.6px;left:9425.74px;white-space:nowrap">least </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9579.6px;left:0px;white-space:nowrap">300%. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9579.6px;left:557.14px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9579.6px;left:917.31px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9579.6px;left:1377.6px;white-space:nowrap">has </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9579.6px;left:1717.82px;white-space:nowrap">met </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9579.6px;left:2067.89px;white-space:nowrap">these </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9579.6px;left:2558.23px;white-space:nowrap">requirements </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9579.6px;left:3658.71px;white-space:nowrap">during </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9579.6px;left:4209.08px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9579.6px;left:4509.32px;white-space:nowrap">period </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9579.6px;left:5059.69px;white-space:nowrap">ended </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9579.6px;left:5610.23px;white-space:nowrap">February </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9579.6px;left:6380.51px;white-space:nowrap">28, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9579.6px;left:6680.74px;white-space:nowrap">2021. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9579.6px;left:7177.94px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9579.6px;left:7538.12px;white-space:nowrap">issuance </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9579.6px;left:8298.54px;white-space:nowrap">costs </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9579.6px;left:8768.67px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9579.6px;left:8968.8px;letter-spacing:-1.48px;white-space:nowrap">$114,819 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9829.6px;left:0px;white-space:nowrap">incurred </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9829.6px;left:700.31px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9829.6px;left:940.43px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9829.6px;left:1240.66px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9829.6px;left:1700.95px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9829.6px;left:2011.11px;white-space:nowrap">deferred </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9829.6px;left:2731.55px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9829.6px;left:3081.88px;white-space:nowrap">amortized </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9829.6px;left:3922.21px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9829.6px;left:4172.43px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9829.6px;left:4422.66px;white-space:nowrap">interest </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9829.6px;left:5062.94px;white-space:nowrap">method </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9829.6px;left:5713.33px;white-space:nowrap">basis </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9829.6px;left:6183.54px;white-space:nowrap">over </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9829.6px;left:6583.71px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9829.6px;left:6883.95px;white-space:nowrap">term </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9829.6px;left:7293.96px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9829.6px;left:7494.08px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9829.6px;left:7794.32px;white-space:nowrap">Notes. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9829.6px;left:8364.55px;white-space:nowrap">For </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9829.6px;left:8684.56px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9829.6px;left:8984.79px;white-space:nowrap">period </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9829.6px;left:9535.17px;white-space:nowrap">ended </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10079.6px;left:0px;white-space:nowrap">February </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10079.6px;left:770.27px;white-space:nowrap">28, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10079.6px;left:1070.51px;white-space:nowrap">2021, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10079.6px;left:1570.96px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10079.6px;left:1871.19px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10079.6px;left:2331.47px;white-space:nowrap">amortized </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10079.6px;left:3171.8px;letter-spacing:-1.67px;white-space:nowrap">$11,300 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10079.6px;left:3859.1px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10079.6px;left:4059.23px;white-space:nowrap">Notes </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10079.6px;left:4579.45px;white-space:nowrap">issuance </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10079.6px;left:5339.88px;white-space:nowrap">costs. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10079.6px;left:5860.02px;white-space:nowrap">Subject </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10079.6px;left:6510.41px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10079.6px;left:6710.54px;white-space:nowrap">certain </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10079.6px;left:7300.81px;white-space:nowrap">restrictions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10079.6px;left:8221.03px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10079.6px;left:8571.36px;white-space:nowrap">make </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10079.6px;left:9061.52px;white-space:nowrap">whole </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10329.6px;left:0px;white-space:nowrap">premiums, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10329.6px;left:890.16px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10329.6px;left:1190.39px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10329.6px;left:1650.67px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10329.6px;left:2040.73px;white-space:nowrap">prepay </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10329.6px;left:2641.11px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10329.6px;left:2941.35px;white-space:nowrap">Notes </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10329.6px;left:3461.57px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10329.6px;left:3661.7px;white-space:nowrap">any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10329.6px;left:4001.92px;white-space:nowrap">time. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10329.6px;left:4432.06px;white-space:nowrap">At </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10329.6px;left:4652.14px;white-space:nowrap">February </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10329.6px;left:5422.41px;white-space:nowrap">28, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10329.6px;left:5722.65px;white-space:nowrap">2021, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10329.6px;left:6223.1px;white-space:nowrap">if </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10329.6px;left:6363.11px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10329.6px;left:6663.34px;white-space:nowrap">Notes </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10329.6px;left:7183.56px;white-space:nowrap">were </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10329.6px;left:7623.72px;white-space:nowrap">fully </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10329.6px;left:7993.83px;white-space:nowrap">prepaid, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10329.6px;left:8694.32px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10329.6px;left:8994.55px;white-space:nowrap">make </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10329.6px;left:9484.72px;white-space:nowrap">whole </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10579.6px;left:0px;white-space:nowrap">premium </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10579.6px;left:750.15px;white-space:nowrap">related </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10579.6px;left:1350.53px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10579.6px;left:1550.65px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10579.6px;left:1850.89px;white-space:nowrap">current </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10579.6px;left:2461.11px;white-space:nowrap">balance </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10579.6px;left:3141.65px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10579.6px;left:3341.78px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10579.6px;left:3642.01px;white-space:nowrap">Notes </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10579.6px;left:4162.24px;white-space:nowrap">would </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10579.6px;left:4682.55px;white-space:nowrap">have </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10579.6px;left:5122.88px;white-space:nowrap">been </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10579.6px;left:5573.32px;white-space:nowrap">approximately </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10579.6px;left:6743.85px;white-space:nowrap">$5,197,510. </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">g. </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">Security </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:657.54px;left:1024.22px;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:2301.89px;white-space:nowrap">Investment </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:657.54px;left:3357.75px;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 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">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:820.46px;white-space:nowrap">employs </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:1540.72px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:1790.95px;white-space:nowrap">income-based </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:2971.58px;white-space:nowrap">approach </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:3772.18px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:3972.3px;white-space:nowrap">determine </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:4822.73px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:5122.97px;white-space:nowrap">fair </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:5423.03px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:5903.35px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:6103.48px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:6403.71px;white-space:nowrap">Notes, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:6973.95px;white-space:nowrap">which </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:7484.15px;white-space:nowrap">uses </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:7914.38px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:8214.61px;letter-spacing:-0.95px;white-space:nowrap">Notes&#8217; </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:8768.14px;white-space:nowrap">current </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:9378.37px;white-space:nowrap">credit </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:0px;white-space:nowrap">rating, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:550.28px;white-space:nowrap">remaining </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:1390.69px;white-space:nowrap">time </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:1780.75px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:1980.88px;letter-spacing:-1.34px;white-space:nowrap">maturity, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:2707.65px;white-space:nowrap">stated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:3248px;white-space:nowrap">coupon </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:3888.54px;white-space:nowrap">rates, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:4388.73px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:4688.96px;white-space:nowrap">current </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:5299.19px;white-space:nowrap">yield </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:5719.39px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:5919.52px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:6069.64px;white-space:nowrap">comparable </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:7060.17px;white-space:nowrap">asset, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:7590.41px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:7940.74px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:8090.86px;white-space:nowrap">liquidity </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:8741.16px;white-space:nowrap">premium. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:9531.39px;white-space:nowrap">At </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:844px;left:0px;white-space:nowrap">February </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:844px;left:770.27px;white-space:nowrap">28, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:844px;left:1070.51px;white-space:nowrap">2021, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:844px;left:1570.96px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:844px;left:1871.19px;white-space:nowrap">estimated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:844px;left:2701.58px;white-space:nowrap">fair </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:844px;left:3001.64px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:844px;left:3481.96px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:844px;left:3682.09px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:844px;left:3982.32px;white-space:nowrap">Notes </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:844px;left:4502.55px;white-space:nowrap">was </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:844px;left:4872.66px;white-space:nowrap">approximately </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:844px;left:6043.18px;white-space:nowrap">$69,640,000. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:844px;left:7140.94px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:844px;left:7501.11px;white-space:nowrap">inputs </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:844px;left:8031.45px;white-space:nowrap">used </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:844px;left:8471.78px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:844px;left:8661.88px;white-space:nowrap">determining </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">fair </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1094px;left:600.29px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1094px;left:1080.62px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1094px;left:1280.74px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1094px;left:1580.98px;white-space:nowrap">Notes </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1094px;left:2101.2px;white-space:nowrap">represent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1094px;left:2911.64px;white-space:nowrap">Level </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1094px;left:3391.96px;white-space:nowrap">3 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1094px;left:3542.08px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1094px;left:3732.19px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1094px;left:4032.42px;white-space:nowrap">fair </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1094px;left:4332.48px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1094px;left:4812.8px;letter-spacing:-1.21px;white-space:nowrap">hierarchy. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1094px;left:5639.77px;white-space:nowrap">See </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1094px;left:6010.05px;white-space:nowrap">Note&#160;10 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1094px;left:6690.5px;white-space:nowrap">regarding </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1094px;left:7501.03px;white-space:nowrap">fair </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1094px;left:7801.08px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1094px;left:8281.41px;white-space:nowrap">measurements </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1094px;left:9521.89px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1344px;left:0px;white-space:nowrap">additional </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1344px;left:820.63px;white-space:nowrap">information </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1344px;left:1761.06px;white-space:nowrap">about </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1344px;left:2261.51px;white-space:nowrap">fair </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1344px;left:2561.57px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1344px;left:3041.89px;white-space:nowrap">hierarchy </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1344px;left:3832.21px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1344px;left:4182.54px;white-space:nowrap">Level </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1344px;left:4662.86px;white-space:nowrap">3 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1344px;left:4812.98px;white-space:nowrap">inputs.</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:1927.07px;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:1927.07px;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:1927.07px;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:1927.07px;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:2294.8px;left:0px;white-space:nowrap">Franklin </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2294.8px;left:690.21px;white-space:nowrap">Resources, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2294.8px;left:1650.59px;white-space:nowrap">Inc. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2294.8px;left:1990.72px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2294.8px;left:2170.72px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2294.8px;left:2470.96px;white-space:nowrap">holding </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2294.8px;left:3101.48px;white-space:nowrap">company </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2294.8px;left:3881.87px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2294.8px;left:4141.93px;white-space:nowrap">various </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2294.8px;left:4772.2px;white-space:nowrap">subsidiaries </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2294.8px;left:5772.66px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2294.8px;left:6122.9px;white-space:nowrap">together </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2294.8px;left:6833.41px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2294.8px;left:7143.57px;white-space:nowrap">referred </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2294.8px;left:7823.85px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2294.8px;left:8023.97px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2294.8px;left:8264.09px;white-space:nowrap">Franklin </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2294.8px;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:2544.8px;left:0px;white-space:nowrap">Certain </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2544.8px;left:630.26px;text-rendering:optimizeLegibility;white-space:nowrap">officers </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2544.8px;left:1260.44px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2544.8px;left:1610.77px;white-space:nowrap">trustees </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2544.8px;left:2301.06px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2544.8px;left:2501.19px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2544.8px;left:2801.43px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2544.8px;left:3261.71px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2544.8px;left:3571.88px;white-space:nowrap">also </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2544.8px;left:3952.09px;text-rendering:optimizeLegibility;white-space:nowrap">officers </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2544.8px;left:4582.27px;white-space:nowrap">and/or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2544.8px;left:5142.66px;white-space:nowrap">directors </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2544.8px;left:5882.87px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2544.8px;left:6083px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2544.8px;left:6383.23px;white-space:nowrap">following </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2544.8px;left:7133.64px;white-space:nowrap">subsidiaries: </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:4062.79px;left:0px;white-space:nowrap">a. </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:4062.79px;left:211.25px;white-space:nowrap">Management </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:4062.79px;left:1425.37px;white-space:nowrap">Fees</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4393.26px;left:0px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4393.26px;left:360.18px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4393.26px;left:820.46px;white-space:nowrap">pays </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4393.26px;left:1250.68px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4393.26px;left:1500.91px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4393.26px;left:2421.3px;white-space:nowrap">management </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4393.26px;left:3521.95px;white-space:nowrap">fee </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4393.26px;left:3822.19px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4393.26px;left:4012.38px;white-space:nowrap">Advisers </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4393.26px;left:4752.6px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4393.26px;left:4952.72px;white-space:nowrap">0.75% </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4393.26px;left:5513.12px;white-space:nowrap">per </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4393.26px;left:5823.28px;white-space:nowrap">year </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4393.26px;left:6223.45px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4393.26px;left:6423.57px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4393.26px;left:6723.81px;white-space:nowrap">average </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4393.26px;left:7424.3px;white-space:nowrap">weekly </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4393.26px;left:8024.5px;white-space:nowrap">managed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4393.26px;left:8825.1px;white-space:nowrap">assets. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4643.26px;left:0px;white-space:nowrap">Managed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4643.26px;left:800.6px;white-space:nowrap">assets </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4643.26px;left:1370.83px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4643.26px;left:1681px;text-rendering:optimizeLegibility;white-space:nowrap">defined </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4643.26px;left:2321.54px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4643.26px;left:2561.66px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4643.26px;left:2861.89px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4643.26px;left:3448.92px;white-space:nowrap">gross </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4643.26px;left:3939.08px;white-space:nowrap">asset </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4643.26px;left:4419.32px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4643.26px;left:4899.64px;white-space:nowrap">minus </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4643.26px;left:5429.79px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4643.26px;left:5730.03px;white-space:nowrap">sum </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4643.26px;left:6120.09px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4643.26px;left:6320.21px;white-space:nowrap">accrued </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4643.26px;left:7010.6px;white-space:nowrap">liabilities, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4643.26px;left:7790.89px;white-space:nowrap">other </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4643.26px;left:8251.17px;white-space:nowrap">than </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4643.26px;left:8651.51px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4643.26px;left:8951.75px;white-space:nowrap">principal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4893.26px;left:0px;white-space:nowrap">amount </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4893.26px;left:650.39px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4893.26px;left:850.52px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4893.26px;left:1150.75px;white-space:nowrap">Notes.</div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:5396.79px;left:0px;white-space:nowrap">b. </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:5396.79px;left:214.58px;white-space:nowrap">Administrative </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:5396.79px;left:1587.17px;white-space:nowrap">Fees</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5727.26px;left:0px;white-space:nowrap">Under </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5727.26px;left:540.26px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5727.26px;left:790.49px;white-space:nowrap">agreement </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5727.26px;left:1701.04px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5727.26px;left:2061.21px;white-space:nowrap">Advisers, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5727.26px;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:5727.26px;left:3118.1px;white-space:nowrap">Services </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5727.26px;left:3858.31px;white-space:nowrap">provides </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5727.26px;left:4588.68px;white-space:nowrap">administrative </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5727.26px;left:5749.1px;white-space:nowrap">services </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5727.26px;left:6459.26px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5727.26px;left:6659.38px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5727.26px;left:6959.62px;white-space:nowrap">Fund. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5727.26px;left:7466.66px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5727.26px;left:7826.84px;white-space:nowrap">fee </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5727.26px;left:8127.07px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5727.26px;left:8307.07px;white-space:nowrap">paid </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5727.26px;left:8697.39px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5727.26px;left:8927.58px;white-space:nowrap">Advisers </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5977.26px;left:0px;white-space:nowrap">based </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5977.26px;left:540.44px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5977.26px;left:790.66px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5977.26px;left:1090.9px;white-space:nowrap">Fund&#39;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5977.26px;left:1675.55px;white-space:nowrap">average </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5977.26px;left:2376.04px;white-space:nowrap">daily </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5977.26px;left:2796.24px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5977.26px;left:3096.47px;white-space:nowrap">assets, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5977.26px;left:3716.72px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5977.26px;left:4067.05px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5977.26px;left:4247.05px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5977.26px;left:4547.29px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5977.26px;left:4797.51px;white-space:nowrap">additional </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5977.26px;left:5618.14px;white-space:nowrap">expense </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5977.26px;left:6348.69px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5977.26px;left:6548.82px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5977.26px;left:6849.05px;white-space:nowrap">Fund.</div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:6480.79px;left:0px;white-space:nowrap">c. </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:6480.79px;left:211.25px;white-space:nowrap">Investments </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:6480.79px;left:1372.77px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:6480.79px;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:6480.79px;left:2452.93px;white-space:nowrap">Management </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:6480.79px;left:3667.06px;white-space:nowrap">Investment </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:6480.79px;left:4722.91px;white-space:nowrap">Companies</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6811.26px;left:0px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6811.26px;left:360.18px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6811.26px;left:820.46px;white-space:nowrap">invests </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6811.26px;left:1430.68px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6811.26px;left:1620.79px;white-space:nowrap">one </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6811.26px;left:1971.12px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6811.26px;left:2181.18px;white-space:nowrap">more </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6811.26px;left:2641.29px;text-rendering:optimizeLegibility;white-space:nowrap">affiliated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6811.26px;left:3361.73px;white-space:nowrap">management </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6811.26px;left:4462.38px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6811.26px;left:5382.77px;white-space:nowrap">companies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6811.26px;left:6303.25px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6811.26px;left:6563.32px;white-space:nowrap">purposes </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6811.26px;left:7353.81px;white-space:nowrap">other </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6811.26px;left:7814.09px;white-space:nowrap">than </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6811.26px;left:8214.43px;white-space:nowrap">exercising </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6811.26px;left:9074.79px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6811.26px;left:9224.91px;white-space:nowrap">controlling </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7061.26px;left:0px;text-rendering:optimizeLegibility;white-space:nowrap">influence </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7061.26px;left:770.54px;white-space:nowrap">over </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7061.26px;left:1170.7px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7061.26px;left:1470.94px;white-space:nowrap">management </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7061.26px;left:2571.59px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7061.26px;left:2781.65px;white-space:nowrap">policies. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7061.26px;left:3481.96px;white-space:nowrap">Management </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7061.26px;left:4582.62px;white-space:nowrap">fees </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7061.26px;left:4972.85px;white-space:nowrap">paid </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7061.26px;left:5363.17px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7061.26px;left:5603.29px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7061.26px;left:5903.53px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7061.26px;left:6363.81px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7061.26px;left:6673.97px;white-space:nowrap">waived </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7061.26px;left:7284.29px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7061.26px;left:7534.51px;white-space:nowrap">assets </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7061.26px;left:8104.75px;white-space:nowrap">invested </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7061.26px;left:8825.19px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7061.26px;left:9015.29px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7061.26px;left:9315.53px;text-rendering:optimizeLegibility;white-space:nowrap">affiliated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7311.26px;left:0px;white-space:nowrap">management </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7311.26px;left:1100.65px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7311.26px;left:2021.04px;white-space:nowrap">companies, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7311.26px;left:2991.53px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7311.26px;left:3231.65px;white-space:nowrap">noted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7311.26px;left:3732.1px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7311.26px;left:3922.21px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7311.26px;left:4222.44px;white-space:nowrap">Statement </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7311.26px;left:5092.91px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7311.26px;left:5293.04px;white-space:nowrap">Operations, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7311.26px;left:6273.54px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7311.26px;left:6463.65px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7311.26px;left:6713.88px;white-space:nowrap">amount </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7311.26px;left:7364.27px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7311.26px;left:7664.5px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7311.26px;left:7864.63px;white-space:nowrap">exceed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7311.26px;left:8495.07px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7311.26px;left:8795.3px;white-space:nowrap">management </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7561.26px;left:0px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7561.26px;left:350.33px;white-space:nowrap">administrative </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7561.26px;left:1510.75px;white-space:nowrap">fees </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7561.26px;left:1900.99px;white-space:nowrap">paid </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7561.26px;left:2291.31px;white-space:nowrap">directly </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7561.26px;left:2911.46px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7561.26px;left:3121.52px;white-space:nowrap">indirectly </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7561.26px;left:3881.78px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7561.26px;left:4121.89px;white-space:nowrap">each </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7561.26px;left:4562.23px;text-rendering:optimizeLegibility;white-space:nowrap">affiliate. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7561.26px;left:5232.57px;white-space:nowrap">During </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7561.26px;left:5812.82px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7561.26px;left:6113.06px;white-space:nowrap">period </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7561.26px;left:6663.43px;white-space:nowrap">ended </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7561.26px;left:7213.97px;white-space:nowrap">February </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7561.26px;left:7984.25px;white-space:nowrap">28, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7561.26px;left:8284.48px;white-space:nowrap">2021, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7561.26px;left:8784.93px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7561.26px;left:9085.17px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7561.26px;left:9545.45px;white-space:nowrap">held </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7811.26px;left:0px;white-space:nowrap">investments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7811.26px;left:1010.39px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7811.26px;left:1200.5px;text-rendering:optimizeLegibility;white-space:nowrap">affiliated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7811.26px;left:1920.94px;white-space:nowrap">management </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7811.26px;left:3021.59px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7811.26px;left:3941.98px;white-space:nowrap">companies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7811.26px;left:4862.46px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7811.26px;left:5102.58px;white-space:nowrap">follows:</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3018.22px;left:0px;white-space:nowrap">Subsidiary</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3018.22px;left:5040px;text-rendering:optimizeLegibility;white-space:nowrap">Affiliation</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3294.71px;left:0px;white-space:nowrap">Franklin </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3294.71px;left:604.69px;white-space:nowrap">Advisers, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3294.71px;left:1307.11px;white-space:nowrap">Inc. </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3294.71px;left:1609.45px;white-space:nowrap">(Advisers)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3294.71px;left:5040px;white-space:nowrap">Investment </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3294.71px;left:5867.03px;white-space:nowrap">manager</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3571.19px;left:0px;white-space:nowrap">Franklin </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3571.19px;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:3571.19px;left:1393.28px;white-space:nowrap">Services, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3571.19px;left:2095.7px;white-space:nowrap">LLC </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3571.19px;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:3571.19px;left:2723.98px;white-space:nowrap">Services)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3571.19px;left:5040px;white-space:nowrap">Administrative </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3571.19px;left:6089.22px;white-space:nowrap">manager</div><div style="color:#ffffff;font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8850.25px;left:1796.13px;white-space:nowrap">&#160;&#160;&#160;&#160;aa</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8466.25px;left:2599.98px;letter-spacing:-1.2px;white-space:nowrap">Value </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8466.25px;left:2979.36px;white-space:nowrap">at</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8658.25px;left:2454.59px;white-space:nowrap">Beginning</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8850.25px;left:2527.41px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8850.25px;left:2687.72px;white-space:nowrap">Period</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8850.25px;left:3512.33px;white-space:nowrap">Purchases</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8850.25px;left:4913.11px;white-space:nowrap">Sales</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8658.25px;left:5403.45px;white-space:nowrap">Realized </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8658.25px;left:5972.28px;white-space:nowrap">Gain </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8850.25px;left:5870.41px;white-space:nowrap">(Loss)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8274.25px;left:6389.97px;white-space:nowrap">Net </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8274.25px;left:6637.78px;white-space:nowrap">Change </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8274.25px;left:7155.36px;white-space:nowrap">in</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8466.25px;left:6608.48px;white-space:nowrap">Unrealized </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8658.25px;left:6470.12px;white-space:nowrap">Appreciation </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8850.25px;left:6389.97px;white-space:nowrap">(Depreciation)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8466.25px;left:7865.11px;letter-spacing:-1.44px;white-space:nowrap">Value</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8658.25px;left:7807.06px;white-space:nowrap">at </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8658.25px;left:7960.19px;white-space:nowrap">End</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8850.25px;left:7639.41px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8850.25px;left:7799.72px;white-space:nowrap">Period</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8274.25px;left:8488.06px;white-space:nowrap">Number </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8274.25px;left:9020.17px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8466.25px;left:8385.64px;white-space:nowrap">Shares </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8466.25px;left:8859.7px;white-space:nowrap">Held </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8658.25px;left:8743.06px;white-space:nowrap">at </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8658.25px;left:8896.19px;white-space:nowrap">End</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8850.25px;left:8575.41px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8850.25px;left:8735.72px;white-space:nowrap">Period</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8658.25px;left:9387.34px;white-space:nowrap">Investment </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8850.25px;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:9098.81px;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:9098.81px;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:9098.81px;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:9098.81px;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:9098.81px;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:9098.81px;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:9098.81px;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:9098.81px;left:10075.44px;letter-spacing:-1.52px;white-space:nowrap">a&#160;&#160;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:9198.02px;left:0px;white-space:nowrap">Franklin </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:9198.02px;left:546.88px;white-space:nowrap">Universal </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:9198.02px;left:1174.06px;letter-spacing:-1.44px;white-space:nowrap">Trust</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:9458.5px;left:0px;white-space:nowrap">Non-Controlled </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:9458.5px;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:9686.99px;left:9503.91px;white-space:nowrap">Dividends</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9947.47px;left:0px;white-space:nowrap">Institutional </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9947.47px;left:700.31px;white-space:nowrap">Fiduciary </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9947.47px;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:9947.47px;left:1597.42px;white-space:nowrap">- </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9947.47px;left:1677.58px;white-space:nowrap">Money </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:10139.47px;left:0px;white-space:nowrap">Market </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:10139.47px;left:437.5px;white-space:nowrap">Portfolio, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:10139.47px;left:991.8px;white-space:nowrap">0%</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:10139.47px;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:10139.47px;left:2439.28px;white-space:nowrap">$5,235,951</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:10139.47px;left:3446.31px;white-space:nowrap">$31,993,068</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:10139.47px;left:4438.97px;white-space:nowrap">$(34,646,608)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:10139.47px;left:6059.86px;white-space:nowrap">$&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:10139.47px;left:7067.86px;white-space:nowrap">$&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:10139.47px;left:7560.89px;letter-spacing:-0.96px;white-space:nowrap">$2,582,411</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:10139.47px;left:8522.86px;letter-spacing:-1.07px;white-space:nowrap">2,582,411</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:10139.47px;left:9875.86px;white-space:nowrap">$&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:10399.95px;left:0px;white-space:nowrap">Non-Controlled </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:10399.95px;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:10628.44px;left:9350.78px;white-space:nowrap">Income </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:10628.44px;left:9817.58px;white-space:nowrap">from </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:10820.44px;left:9525.78px;white-space:nowrap">securities </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:11012.44px;left:9686.02px;white-space:nowrap">loaned</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:11272.92px;left:0px;white-space:nowrap">Institutional </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:11272.92px;left:700.31px;white-space:nowrap">Fiduciary </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:11272.92px;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:11272.92px;left:1597.42px;white-space:nowrap">- </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:11272.92px;left:1677.58px;white-space:nowrap">Money </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:11464.92px;left:0px;white-space:nowrap">Market </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:11464.92px;left:437.5px;white-space:nowrap">Portfolio, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:11464.92px;left:991.8px;white-space:nowrap">0%</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:11464.92px;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:11464.92px;left:2891.86px;white-space:nowrap">$&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:11464.92px;left:3701.7px;white-space:nowrap">$20,000</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:11464.92px;left:4694.36px;white-space:nowrap">$(19,000)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:11464.92px;left:6059.86px;white-space:nowrap">$</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:11464.92px;left:6132.83px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:11464.92px;left:7067.86px;white-space:nowrap">$</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:11464.92px;left:7140.83px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:11464.92px;left:7806.67px;white-space:nowrap">$1,000</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:11464.92px;left:8768.64px;white-space:nowrap">1,000</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:11464.92px;left:9875.86px;white-space:nowrap">$&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:11725.41px;left:0px;letter-spacing:-1.6px;white-space:nowrap">Total </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:11725.41px;left:335.55px;text-rendering:optimizeLegibility;white-space:nowrap">Affiliated </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:11725.41px;left:933.28px;white-space:nowrap">Securities</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:11725.41px;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:11725.41px;left:2439.28px;white-space:nowrap">$5,235,951</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:11725.41px;left:3446.31px;white-space:nowrap">$32,013,068</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:11725.41px;left:4438.97px;white-space:nowrap">$(34,665,608)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:11725.41px;left:6059.86px;white-space:nowrap">$&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:11725.41px;left:7067.86px;white-space:nowrap">$&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:11725.41px;left:7560.89px;letter-spacing:-0.96px;white-space:nowrap">$2,583,411</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:11725.41px;left:9875.86px;white-space:nowrap">$&#8212;</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:-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:-3.43px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:-23.73px;left:860.29px;letter-spacing:-3.33px;white-space:nowrap">Fixed </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:-23.73px;left:1414.22px;letter-spacing:-3.2px;white-space:nowrap">Rate </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:-23.73px;left:1883.29px;letter-spacing:-4px;white-space:nowrap">Notes</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10.14px;left:2460.2px;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:928.8px;width:712.8px;transform-origin:top left;transform:scale(1.2,1.2)"><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:10.67px;white-space:nowrap">Franklin </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:793.16px;letter-spacing:10.32px;white-space:nowrap">Universal </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:1686.13px;letter-spacing:9.15px;white-space:nowrap">Trust</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:9.16px;white-space:nowrap">Statements </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:178.59px;left:2678.75px;letter-spacing:10.91px;white-space:nowrap">(unaudited)</div></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, 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:-3.5px;white-space:nowrap">Expense </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:-23.73px;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:-23.73px;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:344px;left:0px;white-space:nowrap">The&#160;Fund&#160;has </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:1160.68px;white-space:nowrap">entered </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:1821.18px;white-space:nowrap">into </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:2161.41px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:2411.63px;white-space:nowrap">arrangement </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:3482.23px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:3852.33px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:4082.34px;white-space:nowrap">custodian </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:4902.89px;white-space:nowrap">whereby </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:5633.26px;white-space:nowrap">credits </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:6213.43px;white-space:nowrap">realized </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:6893.79px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:7133.91px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:7284.02px;white-space:nowrap">result </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:7774.19px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:7974.32px;white-space:nowrap">uninvested </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:8894.97px;white-space:nowrap">cash </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:9325.2px;white-space:nowrap">balances </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:0px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:310.17px;white-space:nowrap">used </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:750.5px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:950.63px;white-space:nowrap">reduce </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:1551.01px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:1701.12px;white-space:nowrap">portion </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:2301.5px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:2501.63px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:2801.87px;white-space:nowrap">Fund&#39;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:3386.51px;white-space:nowrap">custodian </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:4207.06px;white-space:nowrap">expenses. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:5077.62px;white-space:nowrap">During </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:5657.87px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:5958.11px;white-space:nowrap">period </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:6508.48px;white-space:nowrap">ended </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:7059.02px;white-space:nowrap">February </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:7829.3px;white-space:nowrap">28, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:8129.53px;white-space:nowrap">2021, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:8629.98px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:8930.21px;white-space:nowrap">custodian </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:844px;left:0px;white-space:nowrap">fees </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:844px;left:390.23px;white-space:nowrap">were </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:844px;left:830.39px;white-space:nowrap">reduced </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:844px;left:1530.88px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:844px;left:1771px;white-space:nowrap">noted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:844px;left:2271.45px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:844px;left:2461.55px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:844px;left:2761.79px;white-space:nowrap">Statement </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:844px;left:3632.26px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:844px;left:3832.38px;white-space:nowrap">Operations.&#160;</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:1427.07px;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:1427.07px;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:1427.07px;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:1794.8px;left:0px;white-space:nowrap">For </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1794.8px;left:320.01px;white-space:nowrap">tax </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1794.8px;left:610.14px;white-space:nowrap">purposes, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1794.8px;left:1450.63px;white-space:nowrap">capital </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1794.8px;left:2020.96px;white-space:nowrap">losses </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1794.8px;left:2581.17px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1794.8px;left:2971.23px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1794.8px;left:3221.46px;white-space:nowrap">carried </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1794.8px;left:3821.66px;white-space:nowrap">over </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1794.8px;left:4221.83px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1794.8px;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:1794.8px;left:4908.96px;white-space:nowrap">future </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1794.8px;left:5419.25px;white-space:nowrap">capital </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1794.8px;left:5989.57px;white-space:nowrap">gains.&#160;</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2224.8px;left:0px;white-space:nowrap">At </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2224.8px;left:210.15px;white-space:nowrap">August </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2224.8px;left:820.55px;white-space:nowrap">31, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2224.8px;left:1120.78px;white-space:nowrap">2020, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2224.8px;left:1621.23px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2224.8px;left:1921.46px;white-space:nowrap">capital </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2224.8px;left:2491.79px;white-space:nowrap">loss </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2224.8px;left:2861.89px;white-space:nowrap">carryforwards </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2224.8px;left:4002.1px;white-space:nowrap">were </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2224.8px;left:4442.26px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2224.8px;left:4682.37px;white-space:nowrap">follows:</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3501.23px;left:0px;white-space:nowrap">At </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3501.23px;left:220.08px;white-space:nowrap">February </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3501.23px;left:990.35px;white-space:nowrap">28, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3501.23px;left:1290.59px;white-space:nowrap">2021, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3501.23px;left:1791.04px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3501.23px;left:2091.27px;white-space:nowrap">cost </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3501.23px;left:2471.4px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3501.23px;left:2671.52px;white-space:nowrap">investments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3501.23px;left:3681.91px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3501.23px;left:4032.25px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3501.23px;left:4332.48px;white-space:nowrap">unrealized </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3501.23px;left:5213.06px;white-space:nowrap">appreciation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3501.23px;left:6243.75px;white-space:nowrap">(depreciation) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3501.23px;left:7394.33px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3501.23px;left:7654.39px;white-space:nowrap">income </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3501.23px;left:8284.66px;white-space:nowrap">tax </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3501.23px;left:8574.79px;white-space:nowrap">purposes </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3501.23px;left:9365.27px;white-space:nowrap">were </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3501.23px;left:9805.43px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3751.23px;left:0px;white-space:nowrap">follows:</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5675.18px;left:0px;letter-spacing:-0.27px;white-space:nowrap">Differences </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5675.18px;left:957.13px;white-space:nowrap">between </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5675.18px;left:1687.68px;white-space:nowrap">income </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5675.18px;left:2317.94px;white-space:nowrap">and/or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5675.18px;left:2878.33px;white-space:nowrap">capital </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5675.18px;left:3448.65px;white-space:nowrap">gains </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5675.18px;left:3928.97px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5675.18px;left:4169.09px;white-space:nowrap">determined </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5675.18px;left:5119.63px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5675.18px;left:5369.85px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5675.18px;left:5519.97px;white-space:nowrap">book </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5675.18px;left:5960.3px;white-space:nowrap">basis </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5675.18px;left:6430.52px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5675.18px;left:6780.85px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5675.18px;left:6930.97px;white-space:nowrap">tax </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5675.18px;left:7221.09px;white-space:nowrap">basis </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5675.18px;left:7691.31px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5675.18px;left:8001.47px;white-space:nowrap">primarily </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5675.18px;left:8731.49px;white-space:nowrap">due </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5675.18px;left:9081.83px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5675.18px;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:5925.18px;left:0px;white-space:nowrap">treatment</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5925.18px;left:760.34px;white-space:nowrap">s</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5925.18px;left:900.35px;white-space:nowrap">of</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5925.18px;left:1100.48px;white-space:nowrap">defaulted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5925.18px;left:1891.14px;white-space:nowrap">securities, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5925.18px;left:2751.42px;white-space:nowrap">bond </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5925.18px;left:3201.86px;white-space:nowrap">discounts </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5925.18px;left:4012.29px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5925.18px;left:4362.63px;white-space:nowrap">premiums</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5925.18px;left:5202.77px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5925.18px;left:5553.11px;white-space:nowrap">corporate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5925.18px;left:6363.54px;white-space:nowrap">actions</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5925.18px;left:6933.87px;white-space:nowrap">.</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:6508.25px;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:6508.25px;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:6508.25px;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:6875.98px;left:0px;white-space:nowrap">Purchases </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6875.98px;left:900.44px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6875.98px;left:1250.77px;white-space:nowrap">sales </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6875.98px;left:1720.99px;white-space:nowrap">(excluding </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6875.98px;left:2591.46px;white-space:nowrap">short </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6875.98px;left:3041.63px;white-space:nowrap">term </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6875.98px;left:3451.64px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6875.98px;left:4261.9px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6875.98px;left:4521.97px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6875.98px;left:4822.21px;white-space:nowrap">period </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6875.98px;left:5372.58px;white-space:nowrap">ended </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6875.98px;left:5923.13px;white-space:nowrap">February </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6875.98px;left:6693.4px;white-space:nowrap">28, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6875.98px;left:6993.63px;white-space:nowrap">2021, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6875.98px;left:7494.08px;white-space:nowrap">aggregated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6875.98px;left:8454.9px;white-space:nowrap">$51,073,796 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6875.98px;left:9505.9px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7125.98px;left:0px;white-space:nowrap">$44,336,161, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7125.98px;left:1101.01px;letter-spacing:-1.03px;white-space:nowrap">respectively.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7555.98px;left:0px;white-space:nowrap">At </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7555.98px;left:220.08px;white-space:nowrap">February </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7555.98px;left:990.35px;white-space:nowrap">28, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7555.98px;left:1290.59px;white-space:nowrap">2021, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7555.98px;left:1791.04px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7555.98px;left:1981.14px;white-space:nowrap">connection </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7555.98px;left:2901.8px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7555.98px;left:3271.9px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7555.98px;left:4082.17px;white-space:nowrap">lending </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7555.98px;left:4712.7px;white-space:nowrap">transactions, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7555.98px;left:5783.2px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7555.98px;left:6083.44px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7555.98px;left:6543.72px;white-space:nowrap">loaned </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7555.98px;left:7134.26px;white-space:nowrap">equity </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7555.98px;left:7664.59px;white-space:nowrap">investments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7555.98px;left:8674.98px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7555.98px;left:9025.31px;white-space:nowrap">received </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7805.98px;left:0px;white-space:nowrap">$1,359 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7805.98px;left:600.56px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7805.98px;left:800.68px;white-space:nowrap">cash </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7805.98px;left:1230.91px;white-space:nowrap">collateral. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7805.98px;left:2048.03px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7805.98px;left:2408.2px;white-space:nowrap">gross </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7805.98px;left:2898.37px;white-space:nowrap">amount </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7805.98px;left:3548.76px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7805.98px;left:3748.89px;white-space:nowrap">recognized </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7805.98px;left:4679.47px;white-space:nowrap">liability </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7805.98px;left:5269.66px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7805.98px;left:5529.73px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7805.98px;left:5959.95px;white-space:nowrap">transactions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7805.98px;left:6980.45px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7805.98px;left:7160.45px;white-space:nowrap">included </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7805.98px;left:7880.98px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7805.98px;left:8071.08px;white-space:nowrap">payable </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7805.98px;left:8751.62px;white-space:nowrap">upon </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7805.98px;left:9202.06px;white-space:nowrap">return </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7805.98px;left:9722.29px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8055.98px;left:0px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8055.98px;left:810.26px;white-space:nowrap">loaned </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8055.98px;left:1400.8px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8055.98px;left:1590.91px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8055.98px;left:1891.14px;white-space:nowrap">Statement </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8055.98px;left:2761.61px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8055.98px;left:2951.81px;white-space:nowrap">Assets </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8055.98px;left:3541.99px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8055.98px;left:3892.32px;white-space:nowrap">Liabilities. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8055.98px;left:4729.48px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8055.98px;left:5089.66px;white-space:nowrap">agreements </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8055.98px;left:6090.21px;white-space:nowrap">can </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8055.98px;left:6430.43px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8055.98px;left:6680.65px;white-space:nowrap">terminated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8055.98px;left:7581.09px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8055.98px;left:7781.22px;white-space:nowrap">any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8055.98px;left:8121.45px;white-space:nowrap">time.</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:8639.05px;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:8639.05px;left:210.36px;letter-spacing:-3.67px;white-space:nowrap">Credit&#160;Risk </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:8639.05px;left:1273.79px;letter-spacing:-3px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:8639.05px;left:1668.92px;letter-spacing:-3.6px;white-space:nowrap">Defaulted </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:8639.05px;left:2595.72px;letter-spacing:-3.6px;white-space:nowrap">Securities</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9006.78px;left:0px;white-space:nowrap">At </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9006.78px;left:220.08px;white-space:nowrap">February </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9006.78px;left:990.35px;white-space:nowrap">28, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9006.78px;left:1290.59px;white-space:nowrap">2021, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9006.78px;left:1791.04px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9006.78px;left:2091.27px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9006.78px;left:2551.55px;white-space:nowrap">had </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9006.78px;left:2901.88px;white-space:nowrap">66.5% </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9006.78px;left:3462.28px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9006.78px;left:3662.4px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9006.78px;left:3892.41px;white-space:nowrap">portfolio </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9006.78px;left:4582.79px;white-space:nowrap">invested </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9006.78px;left:5303.23px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9006.78px;left:5493.34px;white-space:nowrap">high </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9006.78px;left:5883.66px;white-space:nowrap">yield </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9006.78px;left:6303.87px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9006.78px;left:6513.93px;white-space:nowrap">other </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9006.78px;left:6974.21px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9006.78px;left:7784.47px;white-space:nowrap">rated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9006.78px;left:8244.76px;white-space:nowrap">below </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9006.78px;left:8765.07px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9256.78px;left:0px;white-space:nowrap">grade </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9256.78px;left:510.38px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9256.78px;left:860.71px;white-space:nowrap">unrated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9256.78px;left:1521.21px;white-space:nowrap">securities. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9256.78px;left:2378.23px;white-space:nowrap">These </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9256.78px;left:2928.52px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9256.78px;left:3738.78px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9256.78px;left:4128.84px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9256.78px;left:4379.06px;white-space:nowrap">more </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9256.78px;left:4839.17px;white-space:nowrap">sensitive </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9256.78px;left:5589.49px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9256.78px;left:5789.62px;white-space:nowrap">economic </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9256.78px;left:6609.99px;white-space:nowrap">conditions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9256.78px;left:7470.53px;white-space:nowrap">causing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9256.78px;left:8140.96px;white-space:nowrap">greater </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9256.78px;left:8761.29px;white-space:nowrap">price </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9256.78px;left:9201.45px;white-space:nowrap">volatility </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9506.78px;left:0px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9506.78px;left:350.33px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9506.78px;left:660.5px;white-space:nowrap">potentially </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9506.78px;left:1521.04px;white-space:nowrap">subject </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9506.78px;left:2141.37px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9506.78px;left:2341.49px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9506.78px;left:2491.61px;white-space:nowrap">greater </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9506.78px;left:3111.94px;white-space:nowrap">risk </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9506.78px;left:3441.88px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9506.78px;left:3642.01px;white-space:nowrap">loss </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9506.78px;left:4012.12px;white-space:nowrap">due </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9506.78px;left:4362.45px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9506.78px;left:4562.58px;white-space:nowrap">default </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9506.78px;left:5153.03px;white-space:nowrap">than </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9506.78px;left:5553.37px;white-space:nowrap">higher </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9506.78px;left:6103.74px;white-space:nowrap">rated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9506.78px;left:6564.02px;white-space:nowrap">securities.&#160;</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9936.78px;left:0px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9936.78px;left:360.18px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9936.78px;left:820.46px;white-space:nowrap">held </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9936.78px;left:1210.78px;white-space:nowrap">defaulted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9936.78px;left:2001.45px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9936.78px;left:2811.71px;white-space:nowrap">and/or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9936.78px;left:3372.1px;white-space:nowrap">other </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9936.78px;left:3832.38px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9936.78px;left:4642.65px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9936.78px;left:4902.71px;white-space:nowrap">which </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9936.78px;left:5412.92px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9936.78px;left:5713.15px;white-space:nowrap">income </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9936.78px;left:6343.42px;white-space:nowrap">has </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9936.78px;left:6683.64px;white-space:nowrap">been </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9936.78px;left:7134.08px;white-space:nowrap">deemed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9936.78px;left:7834.57px;white-space:nowrap">uncollectible. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9936.78px;left:8915.27px;white-space:nowrap">At </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9936.78px;left:9135.35px;white-space:nowrap">February </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10186.78px;left:0px;white-space:nowrap">28, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10186.78px;left:300.23px;white-space:nowrap">2021, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10186.78px;left:800.68px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10186.78px;left:1100.92px;white-space:nowrap">aggregate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10186.78px;left:1961.63px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10186.78px;left:2441.95px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10186.78px;left:2642.08px;white-space:nowrap">these </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10186.78px;left:3132.42px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10186.78px;left:3942.69px;white-space:nowrap">represents </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10186.78px;left:4843.13px;white-space:nowrap">less </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10186.78px;left:5213.23px;white-space:nowrap">than </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10186.78px;left:5613.57px;white-space:nowrap">0.1% </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10186.78px;left:6073.86px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10186.78px;left:6273.98px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10186.78px;left:6574.22px;white-space:nowrap">Fund&#39;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10186.78px;left:7158.87px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10186.78px;left:7459.1px;white-space:nowrap">assets. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10186.78px;left:8076.09px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10186.78px;left:8436.27px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10186.78px;left:8896.55px;white-space:nowrap">discontinues </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10436.78px;left:0px;white-space:nowrap">accruing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10436.78px;left:730.37px;white-space:nowrap">income </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10436.78px;left:1360.63px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10436.78px;left:1610.86px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10436.78px;left:2421.12px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10436.78px;left:2681.19px;white-space:nowrap">which </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10436.78px;left:3191.4px;white-space:nowrap">income </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10436.78px;left:3821.66px;white-space:nowrap">has </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10436.78px;left:4161.88px;white-space:nowrap">been </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10436.78px;left:4612.32px;white-space:nowrap">deemed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10436.78px;left:5312.81px;white-space:nowrap">uncollectible </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10436.78px;left:6353.44px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10436.78px;left:6703.77px;white-space:nowrap">provides </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10436.78px;left:7434.14px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10436.78px;left:7684.37px;white-space:nowrap">estimate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10436.78px;left:8414.65px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10436.78px;left:8674.72px;white-space:nowrap">losses </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10436.78px;left:9234.93px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10436.78px;left:9485.16px;white-space:nowrap">interest </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10686.78px;left:0px;white-space:nowrap">receivable. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10686.78px;left:917.23px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10686.78px;left:1277.4px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10686.78px;left:2087.67px;white-space:nowrap">have </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10686.78px;left:2528px;white-space:nowrap">been </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10686.78px;left:2978.44px;text-rendering:optimizeLegibility;white-space:nowrap">identified </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10686.78px;left:3748.97px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10686.78px;left:3939.08px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10686.78px;left:4239.32px;white-space:nowrap">accompanying </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10686.78px;left:5450.01px;white-space:nowrap">Statement </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10686.78px;left:6320.48px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10686.78px;left:6520.61px;white-space:nowrap">Investments.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2690.22px;left:0px;white-space:nowrap">Capital </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2690.22px;left:542.5px;white-space:nowrap">loss </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2690.22px;left:871.48px;white-space:nowrap">carryforwards </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2690.22px;left:1885px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2690.22px;left:2151.88px;white-space:nowrap">subject </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2690.22px;left:2703.28px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2690.22px;left:2881.17px;white-space:nowrap">expiration:</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2950.71px;left:144px;white-space:nowrap">Long </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2950.71px;left:544.39px;white-space:nowrap">term</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2950.71px;left:934.13px;letter-spacing:49.46px;white-space:nowrap">................................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2950.71px;left:9279.22px;white-space:nowrap">$1,888,428</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4184.65px;left:0px;white-space:nowrap">Cost </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4184.65px;left:373.44px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4184.65px;left:551.33px;white-space:nowrap">investments</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4184.65px;left:1494.61px;letter-spacing:49.5px;white-space:nowrap">..........................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4184.65px;left:9101.25px;white-space:nowrap">$231,951,391</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4590.59px;left:0px;white-space:nowrap">Unrealized </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4590.59px;left:809.3px;white-space:nowrap">appreciation</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4590.59px;left:1681.44px;letter-spacing:49.51px;white-space:nowrap">........................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4590.59px;left:9190.23px;white-space:nowrap">$53,863,757</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4851.07px;left:0px;white-space:nowrap">Unrealized </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4851.07px;left:809.3px;white-space:nowrap">depreciation</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4851.07px;left:1681.44px;letter-spacing:49.51px;white-space:nowrap">........................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4851.07px;left:9261.64px;white-space:nowrap">(9,697,310)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5111.56px;left:0px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5111.56px;left:293.44px;white-space:nowrap">unrealized </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5111.56px;left:1076.17px;white-space:nowrap">appreciation </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5111.56px;left:1992.34px;white-space:nowrap">(depreciation)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5111.56px;left:2989.22px;letter-spacing:49.65px;white-space:nowrap">..........................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5111.56px;left:9190.23px;white-space:nowrap">$44,166,447</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:-3.56px;white-space:nowrap">9.&#160;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:-3.5px;white-space:nowrap">Pandemic</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:-3.2px;white-space:nowrap">Fair </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:1677.07px;left:719.96px;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:1677.07px;left:1274.08px;letter-spacing:-3.38px;white-space:nowrap">Measurements </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2044.8px;left:0px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2044.8px;left:360.18px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2044.8px;left:820.46px;white-space:nowrap">follows </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2044.8px;left:1420.66px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2044.8px;left:1570.78px;white-space:nowrap">fair </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2044.8px;left:1870.84px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2044.8px;left:2351.16px;white-space:nowrap">hierarchy </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2044.8px;left:3141.47px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2044.8px;left:3491.72px;white-space:nowrap">distinguishes </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2044.8px;left:4582.35px;white-space:nowrap">between </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2044.8px;left:5312.9px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2044.8px;left:5913.02px;white-space:nowrap">data </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2044.8px;left:6313.36px;white-space:nowrap">obtained </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2044.8px;left:7054.01px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2044.8px;left:7464.02px;white-space:nowrap">independent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2044.8px;left:8505px;white-space:nowrap">sources </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2294.8px;left:0px;white-space:nowrap">(observable </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2294.8px;left:990.53px;white-space:nowrap">inputs) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2294.8px;left:1580.8px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2294.8px;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:2294.8px;left:2816.02px;white-space:nowrap">own </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2294.8px;left:3196.23px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2294.8px;left:3796.35px;white-space:nowrap">assumptions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2294.8px;left:4856.84px;white-space:nowrap">(unobservable </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2294.8px;left:6047.58px;white-space:nowrap">inputs). </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2294.8px;left:6684.61px;white-space:nowrap">These </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2294.8px;left:7234.89px;white-space:nowrap">inputs </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2294.8px;left:7765.22px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2294.8px;left:8075.39px;white-space:nowrap">used </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2294.8px;left:8515.72px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2294.8px;left:8705.83px;white-space:nowrap">determining </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2294.8px;left:9696.36px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2544.8px;left:0px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2544.8px;left:480.32px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2544.8px;left:680.45px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2544.8px;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:2544.8px;left:2275.75px;white-space:nowrap">instruments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2544.8px;left:3256.08px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2544.8px;left:3606.42px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2544.8px;left:3916.58px;white-space:nowrap">summarized </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2544.8px;left:4946.84px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2544.8px;left:5136.94px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2544.8px;left:5437.18px;white-space:nowrap">following </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2544.8px;left:6187.59px;white-space:nowrap">fair </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2544.8px;left:6487.65px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2544.8px;left:6967.97px;white-space:nowrap">hierarchy:</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2974.8px;left:604.8px;white-space:nowrap">Level </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2974.8px;left:1085.12px;white-space:nowrap">1 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2974.8px;left:1235.24px;white-space:nowrap">&#8211; </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2974.8px;left:1385.36px;white-space:nowrap">quoted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2974.8px;left:1985.91px;white-space:nowrap">prices </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2974.8px;left:2516.07px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2974.8px;left:2706.18px;white-space:nowrap">active </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2974.8px;left:3226.4px;white-space:nowrap">markets </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2974.8px;left:3916.52px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2974.8px;left:4176.59px;white-space:nowrap">identical </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2974.8px;left:4887.01px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2974.8px;left:5597.43px;white-space:nowrap">instruments</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3404.8px;left:604.8px;white-space:nowrap">Level </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3404.8px;left:1085.12px;white-space:nowrap">2 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3404.8px;left:1235.24px;white-space:nowrap">&#8211; </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3404.8px;left:1385.36px;white-space:nowrap">other </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3404.8px;left:1845.64px;text-rendering:optimizeLegibility;white-space:nowrap">significant </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3404.8px;left:2696.07px;white-space:nowrap">observable </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3404.8px;left:3626.66px;white-space:nowrap">inputs </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3404.8px;left:4156.99px;white-space:nowrap">(including </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3404.8px;left:4977.45px;white-space:nowrap">quoted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3404.8px;left:5578px;white-space:nowrap">prices </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3404.8px;left:6108.16px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3404.8px;left:6368.23px;white-space:nowrap">similar </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3404.8px;left:6938.2px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3404.8px;left:7648.62px;white-space:nowrap">instruments, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3404.8px;left:8678.96px;white-space:nowrap">interest </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3404.8px;left:9319.24px;white-space:nowrap">rates, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3654.8px;left:604.8px;white-space:nowrap">prepayment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3654.8px;left:1605.35px;white-space:nowrap">speed, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3654.8px;left:2195.8px;white-space:nowrap">credit </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3654.8px;left:2685.96px;white-space:nowrap">risk, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3654.8px;left:3065.91px;white-space:nowrap">etc.)</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4084.8px;left:604.8px;white-space:nowrap">Level </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4084.8px;left:1085.12px;white-space:nowrap">3 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4084.8px;left:1235.24px;white-space:nowrap">&#8211; </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4084.8px;left:1385.36px;text-rendering:optimizeLegibility;white-space:nowrap">significant </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4084.8px;left:2235.79px;white-space:nowrap">unobservable </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4084.8px;left:3366.59px;white-space:nowrap">inputs </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4084.8px;left:3896.92px;white-space:nowrap">(including </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4084.8px;left:4717.38px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4084.8px;left:5017.61px;white-space:nowrap">Fund&#39;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4084.8px;left:5602.26px;white-space:nowrap">own </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4084.8px;left:5982.48px;white-space:nowrap">assumptions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4084.8px;left:7042.96px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4084.8px;left:7233.07px;white-space:nowrap">determining </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4084.8px;left:8223.6px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4084.8px;left:8523.83px;white-space:nowrap">fair </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4084.8px;left:8823.89px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4084.8px;left:9304.21px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4334.8px;left:604.8px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4334.8px;left:1315.22px;white-space:nowrap">instruments)</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4764.8px;left:0px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4764.8px;left:360.18px;white-space:nowrap">input </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4764.8px;left:800.51px;white-space:nowrap">levels </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4764.8px;left:1310.71px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4764.8px;left:1620.88px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4764.8px;left:1921.11px;white-space:nowrap">necessarily </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4764.8px;left:2871.47px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4764.8px;left:3121.7px;white-space:nowrap">indication </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4764.8px;left:3932.23px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4764.8px;left:4132.35px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4764.8px;left:4432.59px;white-space:nowrap">risk </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4764.8px;left:4762.53px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4764.8px;left:4972.59px;white-space:nowrap">liquidity </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4764.8px;left:5622.89px;white-space:nowrap">associated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4764.8px;left:6533.44px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4764.8px;left:6903.54px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4764.8px;left:7613.96px;white-space:nowrap">instruments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4764.8px;left:8594.3px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4764.8px;left:8794.42px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4764.8px;left:9144.67px;white-space:nowrap">level.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5194.8px;left:0px;letter-spacing:-4.97px;white-space:nowrap">A </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5194.8px;left:160.14px;white-space:nowrap">summary </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5194.8px;left:950.19px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5194.8px;left:1150.31px;white-space:nowrap">inputs </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5194.8px;left:1680.64px;white-space:nowrap">used </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5194.8px;left:2120.98px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5194.8px;left:2361.09px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5194.8px;left:2561.22px;white-space:nowrap">February </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5194.8px;left:3331.49px;white-space:nowrap">28, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5194.8px;left:3631.73px;white-space:nowrap">2021, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5194.8px;left:4132.18px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5194.8px;left:4322.29px;white-space:nowrap">valuing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5194.8px;left:4942.71px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5194.8px;left:5242.94px;white-space:nowrap">Fund&#39;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5194.8px;left:5827.59px;white-space:nowrap">assets </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5194.8px;left:6397.82px;white-space:nowrap">carried </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5194.8px;left:6998.03px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5194.8px;left:7198.15px;white-space:nowrap">fair </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5194.8px;left:7498.21px;white-space:nowrap">value, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5194.8px;left:8028.54px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5194.8px;left:8208.54px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5194.8px;left:8448.66px;white-space:nowrap">follows: </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5642.78px;left:4785.42px;white-space:nowrap">Level </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5642.78px;left:5239.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5642.78px;left:6369.42px;white-space:nowrap">Level </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5642.78px;left:6823.02px;white-space:nowrap">2</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5642.78px;left:7953.42px;white-space:nowrap">Level </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5642.78px;left:8407.02px;white-space:nowrap">3</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5642.78px;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:5973.11px;left:0px;white-space:nowrap">Franklin </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5973.11px;left:666.8px;white-space:nowrap">Universal </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5973.11px;left:1431.64px;letter-spacing:-1.77px;white-space:nowrap">Trust</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6184.15px;left:0px;white-space:nowrap">Assets:</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6380.64px;left:144px;white-space:nowrap">Investments </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6380.64px;left:1051.03px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6380.64px;left:1220.02px;white-space:nowrap">Securities:</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6577.12px;left:288px;white-space:nowrap">Common </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6577.12px;left:981.52px;white-space:nowrap">Stocks</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6577.12px;left:1461.67px;white-space:nowrap">:</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6773.6px;left:432px;white-space:nowrap">Electric </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6773.6px;left:1000.98px;white-space:nowrap">Utilities </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6773.6px;left:1588.02px;letter-spacing:49.34px;white-space:nowrap">........................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6773.6px;left:4438.23px;white-space:nowrap">$</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6773.6px;left:4527.22px;white-space:nowrap">44,228,020</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6773.6px;left:6663.02px;white-space:nowrap">$</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6773.6px;left:6752px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6773.6px;left:8247.02px;white-space:nowrap">$</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6773.6px;left:8336px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6773.6px;left:9190.23px;white-space:nowrap">$</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6773.6px;left:9279.22px;white-space:nowrap">44,228,020</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6970.09px;left:432px;white-space:nowrap">Energy </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6970.09px;left:983.41px;white-space:nowrap">Equipment </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6970.09px;left:1792.78px;white-space:nowrap">&amp; </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6970.09px;left:1943.95px;white-space:nowrap">Services </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6970.09px;left:2615.57px;letter-spacing:49.66px;white-space:nowrap">.............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6970.09px;left:4749.64px;white-space:nowrap">197,426</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6970.09px;left:6752px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6970.09px;left:8336px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6970.09px;left:9501.64px;white-space:nowrap">197,426</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7166.57px;left:432px;white-space:nowrap">Machinery </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7166.57px;left:1214.5px;letter-spacing:49.29px;white-space:nowrap">............................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7166.57px;left:5168px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7166.57px;left:6333.64px;white-space:nowrap">386,280</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7166.57px;left:8336px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7166.57px;left:9501.64px;white-space:nowrap">386,280</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7363.06px;left:432px;white-space:nowrap">Metals </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7363.06px;left:947.7px;white-space:nowrap">&amp; </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7363.06px;left:1098.88px;white-space:nowrap">Mining </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7363.06px;left:1681.44px;letter-spacing:49.36px;white-space:nowrap">.......................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7363.06px;left:4616.2px;white-space:nowrap">4,425,925</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7363.06px;left:6752px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7363.06px;left:8336px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7363.06px;left:9368.2px;white-space:nowrap">4,425,925</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7559.54px;left:432px;white-space:nowrap">Multi-Utilities </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7559.54px;left:1401.2px;letter-spacing:49.31px;white-space:nowrap">..........................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7559.54px;left:4527.22px;white-space:nowrap">29,765,686</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7559.54px;left:6752px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7559.54px;left:8336px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7559.54px;left:9279.22px;white-space:nowrap">29,765,686</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7756.03px;left:432px;white-space:nowrap">Oil, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7756.03px;left:716.45px;white-space:nowrap">Gas </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7756.03px;left:1054.34px;white-space:nowrap">&amp; </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7756.03px;left:1205.52px;white-space:nowrap">Consumable </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7756.03px;left:2148.25px;white-space:nowrap">Fuels </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7756.03px;left:2615.57px;letter-spacing:49.66px;white-space:nowrap">.............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7756.03px;left:4616.2px;white-space:nowrap">1,546,335</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7756.03px;left:6752px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7756.03px;left:8095.61px;white-space:nowrap">1,302</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7756.03px;left:9368.2px;white-space:nowrap">1,547,637</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7952.51px;left:432px;white-space:nowrap">Paper </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7952.51px;left:903.41px;white-space:nowrap">&amp; </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7952.51px;left:1054.58px;white-space:nowrap">Forest </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7952.51px;left:1552.47px;white-space:nowrap">Products </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7952.51px;left:2241.91px;letter-spacing:49.5px;white-space:nowrap">.................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7952.51px;left:4838.63px;white-space:nowrap">41,625</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7952.51px;left:6752px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7952.51px;left:8336px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7952.51px;left:9590.62px;white-space:nowrap">41,625</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8149px;left:432px;white-space:nowrap">Specialty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8149px;left:1125.67px;white-space:nowrap">Retail </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8149px;left:1588.02px;letter-spacing:49.34px;white-space:nowrap">........................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8149px;left:4749.64px;white-space:nowrap">288,413</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8149px;left:6752px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8149px;left:8336px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8149px;left:9501.64px;white-space:nowrap">288,413</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8345.48px;left:288px;white-space:nowrap">Preferred </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8345.48px;left:999.41px;white-space:nowrap">Stocks </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8345.48px;left:1588.02px;letter-spacing:49.34px;white-space:nowrap">........................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8345.48px;left:4749.64px;white-space:nowrap">662,750</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8345.48px;left:6752px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8345.48px;left:8336px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8345.48px;left:9501.64px;white-space:nowrap">662,750</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8541.96px;left:288px;letter-spacing:-0.74px;white-space:nowrap">Warrants</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8541.96px;left:931.05px;white-space:nowrap">:</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8738.45px;left:432px;white-space:nowrap">Oil, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8738.45px;left:716.45px;white-space:nowrap">Gas </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8738.45px;left:1054.34px;white-space:nowrap">&amp; </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8738.45px;left:1205.52px;white-space:nowrap">Consumable </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8738.45px;left:2148.25px;white-space:nowrap">Fuels </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8738.45px;left:2615.57px;letter-spacing:49.66px;white-space:nowrap">.............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8738.45px;left:4838.63px;white-space:nowrap">19,668</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8738.45px;left:6752px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8738.45px;left:8095.61px;white-space:nowrap">2,365</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8738.45px;left:9590.62px;white-space:nowrap">22,033</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8934.93px;left:432px;white-space:nowrap">Paper </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8934.93px;left:903.41px;white-space:nowrap">&amp; </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8934.93px;left:1054.58px;white-space:nowrap">Forest </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8934.93px;left:1552.47px;white-space:nowrap">Products </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8934.93px;left:2241.91px;letter-spacing:49.5px;white-space:nowrap">.................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8934.93px;left:5061.05px;white-space:nowrap">403</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8934.93px;left:6752px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8934.93px;left:8336px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8934.93px;left:9813.05px;white-space:nowrap">403</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9131.42px;left:288px;white-space:nowrap">Convertible </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9131.42px;left:1141.75px;white-space:nowrap">Bonds </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9131.42px;left:1681.44px;letter-spacing:49.36px;white-space:nowrap">.......................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9131.42px;left:5168px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9131.42px;left:6422.62px;white-space:nowrap">14,943</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9131.42px;left:8336px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9131.42px;left:9590.62px;white-space:nowrap">14,943</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9327.9px;left:288px;white-space:nowrap">Corporate </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9327.9px;left:1043.94px;white-space:nowrap">Bonds</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9327.9px;left:1497.61px;white-space:nowrap">:</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9524.39px;left:432px;white-space:nowrap">Aerospace </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9524.39px;left:1241.38px;white-space:nowrap">&amp; </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9524.39px;left:1392.55px;white-space:nowrap">Defense </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9524.39px;left:2055.09px;letter-spacing:49.44px;white-space:nowrap">...................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9524.39px;left:5168px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9524.39px;left:6200.2px;white-space:nowrap">1,135,636</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9524.39px;left:8336px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9524.39px;left:9368.2px;white-space:nowrap">1,135,636</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9720.87px;left:432px;white-space:nowrap">Air </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9720.87px;left:672px;white-space:nowrap">Freight </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9720.87px;left:1214.42px;white-space:nowrap">&amp; </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9720.87px;left:1365.59px;white-space:nowrap">Logistics </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9720.87px;left:2055.09px;letter-spacing:49.44px;white-space:nowrap">...................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9720.87px;left:5168px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9720.87px;left:6200.2px;white-space:nowrap">1,429,312</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9720.87px;left:8336px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9720.87px;left:9368.2px;white-space:nowrap">1,429,312</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9917.35px;left:432px;white-space:nowrap">Airlines </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9917.35px;left:1027.54px;letter-spacing:49.26px;white-space:nowrap">..............................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9917.35px;left:5168px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9917.35px;left:6200.2px;white-space:nowrap">1,657,917</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9917.35px;left:8336px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9917.35px;left:9368.2px;white-space:nowrap">1,657,917</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10113.84px;left:432px;white-space:nowrap">Auto </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10113.84px;left:805.59px;white-space:nowrap">Components </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10113.84px;left:1774.85px;letter-spacing:49.37px;white-space:nowrap">......................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10113.84px;left:5168px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10113.84px;left:6200.2px;white-space:nowrap">6,981,056</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10113.84px;left:8336px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10113.84px;left:9368.2px;white-space:nowrap">6,981,056</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10310.32px;left:432px;white-space:nowrap">Banks </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10310.32px;left:934.13px;letter-spacing:49.25px;white-space:nowrap">...............................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10310.32px;left:5168px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10310.32px;left:6333.64px;white-space:nowrap">953,224</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10310.32px;left:8336px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10310.32px;left:9501.64px;white-space:nowrap">953,224</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10506.81px;left:432px;white-space:nowrap">Biotechnology </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10506.81px;left:1494.61px;letter-spacing:49.32px;white-space:nowrap">.........................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10506.81px;left:5168px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10506.81px;left:6333.64px;white-space:nowrap">914,341</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10506.81px;left:8336px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10506.81px;left:9501.64px;white-space:nowrap">914,341</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10703.29px;left:432px;white-space:nowrap">Building </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10703.29px;left:1045.75px;white-space:nowrap">Products </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10703.29px;left:1774.85px;letter-spacing:49.37px;white-space:nowrap">......................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10703.29px;left:5168px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10703.29px;left:6200.2px;white-space:nowrap">3,225,465</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10703.29px;left:8336px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10703.29px;left:9368.2px;white-space:nowrap">3,225,465</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10899.78px;left:432px;white-space:nowrap">Chemicals </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10899.78px;left:1307.78px;letter-spacing:49.3px;white-space:nowrap">...........................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10899.78px;left:5168px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10899.78px;left:6200.2px;white-space:nowrap">5,073,156</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10899.78px;left:8336px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10899.78px;left:9368.2px;white-space:nowrap">5,073,156</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11096.26px;left:432px;white-space:nowrap">Commercial </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11096.26px;left:1329.89px;white-space:nowrap">Services </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11096.26px;left:1987.86px;white-space:nowrap">&amp; </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11096.26px;left:2139.03px;white-space:nowrap">Supplies </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11096.26px;left:2802.39px;letter-spacing:49.79px;white-space:nowrap">...........</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11096.26px;left:5168px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11096.26px;left:6200.2px;white-space:nowrap">3,362,321</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11096.26px;left:8336px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11096.26px;left:9368.2px;white-space:nowrap">3,362,321</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11292.75px;left:432px;white-space:nowrap">Communications </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11292.75px;left:1668.02px;white-space:nowrap">Equipment </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11292.75px;left:2522.15px;letter-spacing:49.61px;white-space:nowrap">..............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11292.75px;left:5168px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11292.75px;left:6212.08px;letter-spacing:-1.32px;white-space:nowrap">1,680,112</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11292.75px;left:8336px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11292.75px;left:9380.08px;letter-spacing:-1.32px;white-space:nowrap">1,680,112</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11489.23px;left:432px;white-space:nowrap">Construction </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11489.23px;left:1374.66px;white-space:nowrap">&amp; </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11489.23px;left:1525.83px;white-space:nowrap">Engineering </div><div style="font-family:Arial, 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style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11685.71px;left:2148.5px;letter-spacing:49.47px;white-space:nowrap">..................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11685.71px;left:5168px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11685.71px;left:6200.2px;white-space:nowrap">1,195,975</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11685.71px;left:8336px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11685.71px;left:9368.2px;white-space:nowrap">1,195,975</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11882.2px;left:432px;white-space:nowrap">Consumer </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11882.2px;left:1214.5px;white-space:nowrap">Finance </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11882.2px;left:1868.26px;letter-spacing:49.39px;white-space:nowrap">.....................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11882.2px;left:5168px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11882.2px;left:6200.2px;white-space:nowrap">3,849,981</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11882.2px;left:8336px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11882.2px;left:9368.2px;white-space:nowrap">3,849,981</div></div>
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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:10217.23px;left:0px;letter-spacing:-4.97px;white-space:nowrap">A </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10217.23px;left:160.14px;white-space:nowrap">reconciliation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10217.23px;left:1260.7px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10217.23px;left:1450.81px;white-space:nowrap">which </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10217.23px;left:1961.02px;white-space:nowrap">Level </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10217.23px;left:2441.34px;white-space:nowrap">3 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10217.23px;left:2591.46px;white-space:nowrap">inputs </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10217.23px;left:3121.79px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10217.23px;left:3431.95px;white-space:nowrap">used </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10217.23px;left:3872.29px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10217.23px;left:4062.39px;white-space:nowrap">determining </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10217.23px;left:5052.92px;white-space:nowrap">fair </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10217.23px;left:5352.98px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10217.23px;left:5833.3px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10217.23px;left:6013.3px;white-space:nowrap">presented </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10217.23px;left:6863.91px;white-space:nowrap">when </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10217.23px;left:7344.23px;white-space:nowrap">there </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10217.23px;left:7804.51px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10217.23px;left:8114.68px;text-rendering:optimizeLegibility;white-space:nowrap">significant </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10217.23px;left:8965.11px;white-space:nowrap">Level </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10217.23px;left:9445.43px;white-space:nowrap">3 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10467.23px;left:0px;white-space:nowrap">assets </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10467.23px;left:570.23px;white-space:nowrap">and/or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10467.23px;left:1130.63px;white-space:nowrap">liabilities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10467.23px;left:1860.91px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10467.23px;left:2061.04px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10467.23px;left:2361.27px;white-space:nowrap">beginning </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10467.23px;left:3192.01px;white-space:nowrap">and/or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10467.23px;left:3752.4px;white-space:nowrap">end </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10467.23px;left:4102.73px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10467.23px;left:4302.86px;white-space:nowrap">the&#160;period. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10467.23px;left:5193.54px;white-space:nowrap">At </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10467.23px;left:5413.62px;white-space:nowrap">February </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10467.23px;left:6183.9px;white-space:nowrap">28, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10467.23px;left:6484.13px;white-space:nowrap">2021, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10467.23px;left:6984.58px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10467.23px;left:7284.81px;white-space:nowrap">reconciliation&#160;is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10467.23px;left:8565.38px;white-space:nowrap">as&#160;follows:&#160;</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:400.94px;left:4785.42px;white-space:nowrap">Level </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:400.94px;left:5239.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:400.94px;left:6369.42px;white-space:nowrap">Level </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:400.94px;left:6823.02px;white-space:nowrap">2</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:400.94px;left:7953.42px;white-space:nowrap">Level </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:400.94px;left:8407.02px;white-space:nowrap">3</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:400.94px;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:731.26px;left:0px;white-space:nowrap">Franklin </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:731.26px;left:666.8px;white-space:nowrap">Universal </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:731.26px;left:1431.64px;letter-spacing:-1.26px;white-space:nowrap">Trust </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:731.26px;left:1867.27px;white-space:nowrap">(continued)</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:942.31px;left:0px;white-space:nowrap">Assets: </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:942.31px;left:622.5px;white-space:nowrap">(continued)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1138.79px;left:144px;white-space:nowrap">Investments </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1138.79px;left:1051.03px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1138.79px;left:1220.02px;white-space:nowrap">Securities:</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1335.28px;left:288px;white-space:nowrap">Corporate </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1335.28px;left:1043.94px;white-space:nowrap">Bonds:</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1531.76px;left:432px;white-space:nowrap">Containers </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1531.76px;left:1250.2px;white-space:nowrap">&amp; </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1531.76px;left:1401.38px;white-space:nowrap">Packaging </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1531.76px;left:2241.91px;letter-spacing:49.5px;white-space:nowrap">.................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1531.76px;left:5079.02px;white-space:nowrap">$</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1531.76px;left:5168px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1531.76px;left:6111.22px;white-space:nowrap">$</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1531.76px;left:6200.2px;white-space:nowrap">9,603,350</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1531.76px;left:8247.02px;white-space:nowrap">$</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1531.76px;left:8336px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1531.76px;left:9279.22px;white-space:nowrap">$</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1531.76px;left:9368.2px;white-space:nowrap">9,603,350</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1728.24px;left:432px;text-rendering:optimizeLegibility;white-space:nowrap">Diversified </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1728.24px;left:1223.33px;white-space:nowrap">Financial </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1728.24px;left:1908.09px;white-space:nowrap">Services </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1728.24px;left:2615.57px;letter-spacing:49.66px;white-space:nowrap">.............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1728.24px;left:5168px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1728.24px;left:6200.2px;white-space:nowrap">1,490,625</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1728.24px;left:8336px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1728.24px;left:9368.2px;white-space:nowrap">1,490,625</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1924.73px;left:432px;text-rendering:optimizeLegibility;white-space:nowrap">Diversified </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1924.73px;left:1220.44px;letter-spacing:-0.99px;white-space:nowrap">Telecommunication </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1924.73px;left:2634.42px;white-space:nowrap">Services </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1924.73px;left:3362.87px;letter-spacing:50.78px;white-space:nowrap">.....</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1924.73px;left:5168px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1924.73px;left:6200.2px;white-space:nowrap">8,375,073</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1924.73px;left:8336px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1924.73px;left:9368.2px;white-space:nowrap">8,375,073</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2121.21px;left:432px;white-space:nowrap">Electric </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2121.21px;left:1000.98px;white-space:nowrap">Utilities </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2121.21px;left:1588.02px;letter-spacing:49.34px;white-space:nowrap">........................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2121.21px;left:5168px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2121.21px;left:6200.2px;white-space:nowrap">1,569,690</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2121.21px;left:8336px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2121.21px;left:9368.2px;white-space:nowrap">1,569,690</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2317.7px;left:432px;white-space:nowrap">Electronic </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2317.7px;left:1178.95px;white-space:nowrap">Equipment, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2317.7px;left:2032.78px;white-space:nowrap">Instruments </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2317.7px;left:2913.09px;white-space:nowrap">&amp; </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2509.7px;left:576px;white-space:nowrap">Components </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2509.7px;left:1588.02px;letter-spacing:49.34px;white-space:nowrap">........................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2509.7px;left:5168px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2509.7px;left:6333.64px;white-space:nowrap">506,250</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2509.7px;left:8336px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2509.7px;left:9501.64px;white-space:nowrap">506,250</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2706.18px;left:432px;white-space:nowrap">Energy </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2706.18px;left:983.41px;white-space:nowrap">Equipment </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2706.18px;left:1792.78px;white-space:nowrap">&amp; </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2706.18px;left:1943.95px;white-space:nowrap">Services </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2706.18px;left:2615.57px;letter-spacing:49.66px;white-space:nowrap">.............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2706.18px;left:5168px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2706.18px;left:6200.2px;white-space:nowrap">3,382,783</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2706.18px;left:8336px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2706.18px;left:9368.2px;white-space:nowrap">3,382,783</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2902.67px;left:432px;white-space:nowrap">Entertainment </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2902.67px;left:1494.61px;letter-spacing:49.32px;white-space:nowrap">.........................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2902.67px;left:5168px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2902.67px;left:6200.2px;white-space:nowrap">3,812,188</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2902.67px;left:8336px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2902.67px;left:9368.2px;white-space:nowrap">3,812,188</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3099.15px;left:432px;white-space:nowrap">Equity </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3099.15px;left:921.14px;white-space:nowrap">Real </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3099.15px;left:1294.66px;white-space:nowrap">Estate </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3099.15px;left:1792.7px;white-space:nowrap">Investment </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3099.15px;left:2616.84px;letter-spacing:-0.85px;white-space:nowrap">Trusts </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3099.15px;left:3099.81px;letter-spacing:-2.22px;white-space:nowrap">(REITs) </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3099.15px;left:3736.52px;letter-spacing:58.06px;white-space:nowrap">.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3099.15px;left:5168px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3099.15px;left:6200.2px;white-space:nowrap">3,810,319</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3099.15px;left:8336px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3099.15px;left:9368.2px;white-space:nowrap">3,810,319</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3295.63px;left:432px;white-space:nowrap">Food </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3295.63px;left:841.14px;white-space:nowrap">Products </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3295.63px;left:1588.02px;letter-spacing:49.34px;white-space:nowrap">........................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3295.63px;left:5168px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3295.63px;left:6200.2px;white-space:nowrap">4,180,073</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3295.63px;left:8336px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3295.63px;left:9368.2px;white-space:nowrap">4,180,073</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3492.12px;left:432px;white-space:nowrap">Health </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3492.12px;left:938.95px;white-space:nowrap">Care </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3492.12px;left:1330.2px;white-space:nowrap">Equipment </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3492.12px;left:2139.58px;white-space:nowrap">&amp; </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3492.12px;left:2290.75px;white-space:nowrap">Supplies </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3492.12px;left:2989.22px;letter-spacing:49.97px;white-space:nowrap">.........</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3492.12px;left:5168px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3492.12px;left:6333.64px;white-space:nowrap">193,163</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3492.12px;left:8336px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3492.12px;left:9501.64px;white-space:nowrap">193,163</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3688.6px;left:432px;white-space:nowrap">Health </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3688.6px;left:938.95px;white-space:nowrap">Care </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3688.6px;left:1330.2px;white-space:nowrap">Providers </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3688.6px;left:2050.44px;white-space:nowrap">&amp; </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3688.6px;left:2201.61px;white-space:nowrap">Services </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3688.6px;left:2895.81px;letter-spacing:49.87px;white-space:nowrap">..........</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3688.6px;left:5168px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3688.6px;left:6200.2px;white-space:nowrap">8,738,857</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3688.6px;left:8336px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3688.6px;left:9368.2px;white-space:nowrap">8,738,857</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3885.09px;left:432px;white-space:nowrap">Hotels, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3885.09px;left:974.42px;white-space:nowrap">Restaurants </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3885.09px;left:1881.53px;white-space:nowrap">&amp; </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3885.09px;left:2032.7px;white-space:nowrap">Leisure </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3885.09px;left:2615.57px;letter-spacing:49.66px;white-space:nowrap">.............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3885.09px;left:5168px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3885.09px;left:6111.22px;white-space:nowrap">14,466,554</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3885.09px;left:8336px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3885.09px;left:9279.22px;white-space:nowrap">14,466,554</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4081.57px;left:432px;white-space:nowrap">Household </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4081.57px;left:1241.45px;white-space:nowrap">Durables </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4081.57px;left:1961.68px;letter-spacing:49.42px;white-space:nowrap">....................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4081.57px;left:5168px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4081.57px;left:6200.2px;white-space:nowrap">3,085,624</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4081.57px;left:8336px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4081.57px;left:9368.2px;white-space:nowrap">3,085,624</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4278.06px;left:432px;white-space:nowrap">Household </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4278.06px;left:1241.45px;white-space:nowrap">Products </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4278.06px;left:1961.68px;letter-spacing:49.42px;white-space:nowrap">....................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4278.06px;left:5168px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4278.06px;left:6333.64px;white-space:nowrap">594,594</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4278.06px;left:8336px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4278.06px;left:9501.64px;white-space:nowrap">594,594</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4474.54px;left:432px;white-space:nowrap">Independent </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4474.54px;left:1366.22px;white-space:nowrap">Power </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4474.54px;left:1864.19px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4474.54px;left:2175.59px;white-space:nowrap">Renewable </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4474.54px;left:3020.59px;white-space:nowrap">Electricity </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4666.54px;left:576px;white-space:nowrap">Producers </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4666.54px;left:1401.2px;letter-spacing:49.31px;white-space:nowrap">..........................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4666.54px;left:5168px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4666.54px;left:6200.2px;white-space:nowrap">7,059,057</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4666.54px;left:8336px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4666.54px;left:9368.2px;white-space:nowrap">7,059,057</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4863.03px;left:432px;white-space:nowrap">Insurance </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4863.03px;left:1214.37px;letter-spacing:49.29px;white-space:nowrap">............................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4863.03px;left:5168px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4863.03px;left:6200.2px;white-space:nowrap">1,143,802</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4863.03px;left:8336px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4863.03px;left:9368.2px;white-space:nowrap">1,143,802</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5059.51px;left:432px;white-space:nowrap">Internet </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5059.51px;left:1019.03px;white-space:nowrap">&amp; </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5059.51px;left:1170.2px;white-space:nowrap">Direct </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5059.51px;left:1632.47px;white-space:nowrap">Marketing </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5059.51px;left:2379.42px;white-space:nowrap">Retail </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5059.51px;left:2895.81px;letter-spacing:49.87px;white-space:nowrap">..........</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5059.51px;left:5168px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5059.51px;left:6333.64px;white-space:nowrap">520,028</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5059.51px;left:8336px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5059.51px;left:9501.64px;white-space:nowrap">520,028</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5255.99px;left:432px;letter-spacing:-0.96px;white-space:nowrap">IT </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5255.99px;left:615.75px;white-space:nowrap">Services </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5255.99px;left:1307.78px;letter-spacing:49.3px;white-space:nowrap">...........................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5255.99px;left:5168px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5255.99px;left:6200.2px;white-space:nowrap">4,967,504</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5255.99px;left:8336px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5255.99px;left:9368.2px;white-space:nowrap">4,967,504</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5452.48px;left:432px;white-space:nowrap">Machinery </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5452.48px;left:1214.5px;letter-spacing:49.29px;white-space:nowrap">............................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5452.48px;left:5168px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5452.48px;left:6200.2px;white-space:nowrap">5,421,384</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5452.48px;left:8336px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5452.48px;left:9368.2px;white-space:nowrap">5,421,384</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5648.96px;left:432px;white-space:nowrap">Media </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5648.96px;left:934.13px;letter-spacing:49.25px;white-space:nowrap">...............................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5648.96px;left:5168px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5648.96px;left:6123.09px;letter-spacing:-1.19px;white-space:nowrap">11,332,508</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5648.96px;left:8336px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5648.96px;left:9291.09px;letter-spacing:-1.19px;white-space:nowrap">11,332,508</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5845.45px;left:432px;white-space:nowrap">Metals </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5845.45px;left:947.7px;white-space:nowrap">&amp; </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5845.45px;left:1098.88px;white-space:nowrap">Mining </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5845.45px;left:1681.44px;letter-spacing:49.36px;white-space:nowrap">.......................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5845.45px;left:5168px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5845.45px;left:6200.2px;white-space:nowrap">4,105,685</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5845.45px;left:8336px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5845.45px;left:9368.2px;white-space:nowrap">4,105,685</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6041.93px;left:432px;white-space:nowrap">Oil, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6041.93px;left:716.45px;white-space:nowrap">Gas </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6041.93px;left:1054.34px;white-space:nowrap">&amp; </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6041.93px;left:1205.52px;white-space:nowrap">Consumable </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6041.93px;left:2148.25px;white-space:nowrap">Fuels </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6041.93px;left:2615.57px;letter-spacing:49.66px;white-space:nowrap">.............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6041.93px;left:5168px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6041.93px;left:6111.22px;white-space:nowrap">20,478,571</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6041.93px;left:8006.62px;white-space:nowrap">33,750</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6041.93px;left:9279.22px;white-space:nowrap">20,512,321</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6238.42px;left:432px;white-space:nowrap">Personal </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6238.42px;left:1107.94px;white-space:nowrap">Products </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6238.42px;left:1868.26px;letter-spacing:49.39px;white-space:nowrap">.....................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6238.42px;left:5168px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6238.42px;left:6333.64px;white-space:nowrap">293,310</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6238.42px;left:8336px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6238.42px;left:9501.64px;white-space:nowrap">293,310</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6434.9px;left:432px;white-space:nowrap">Pharmaceuticals </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6434.9px;left:1681.44px;letter-spacing:49.36px;white-space:nowrap">.......................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6434.9px;left:5168px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6434.9px;left:6200.2px;white-space:nowrap">4,124,479</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6434.9px;left:8336px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6434.9px;left:9368.2px;white-space:nowrap">4,124,479</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6631.38px;left:432px;white-space:nowrap">Real </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6631.38px;left:805.52px;white-space:nowrap">Estate </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6631.38px;left:1303.56px;white-space:nowrap">Management </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6631.38px;left:2281.92px;white-space:nowrap">&amp; </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6631.38px;left:2433.09px;white-space:nowrap">Development </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6631.38px;left:3456.29px;letter-spacing:51.24px;white-space:nowrap">....</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6631.38px;left:5168px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6631.38px;left:6200.2px;white-space:nowrap">1,057,085</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6631.38px;left:8336px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6631.38px;left:9368.2px;white-space:nowrap">1,057,085</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6827.87px;left:432px;white-space:nowrap">Semiconductors </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6827.87px;left:1623.64px;white-space:nowrap">&amp; </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6827.87px;left:1774.81px;white-space:nowrap">Semiconductor </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6827.87px;left:2886.45px;white-space:nowrap">Equipment </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6827.87px;left:3736.52px;letter-spacing:58.06px;white-space:nowrap">.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6827.87px;left:5168px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6827.87px;left:6200.2px;white-space:nowrap">1,400,125</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6827.87px;left:8336px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6827.87px;left:9368.2px;white-space:nowrap">1,400,125</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7024.35px;left:432px;white-space:nowrap">Software </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7024.35px;left:1120.96px;letter-spacing:49.27px;white-space:nowrap">.............................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7024.35px;left:5168px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7024.35px;left:6200.2px;white-space:nowrap">4,820,440</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7024.35px;left:8336px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7024.35px;left:9368.2px;white-space:nowrap">4,820,440</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7220.84px;left:432px;white-space:nowrap">Specialty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7220.84px;left:1125.67px;white-space:nowrap">Retail </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7220.84px;left:1588.02px;letter-spacing:49.34px;white-space:nowrap">........................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7220.84px;left:5168px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7220.84px;left:6200.2px;white-space:nowrap">3,433,665</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7220.84px;left:8336px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7220.84px;left:9368.2px;white-space:nowrap">3,433,665</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7417.32px;left:432px;letter-spacing:-1.61px;white-space:nowrap">Technology </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7417.32px;left:1285.91px;white-space:nowrap">Hardware, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7417.32px;left:2068.41px;white-space:nowrap">Storage </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7417.32px;left:2673.25px;white-space:nowrap">&amp; </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7417.32px;left:2824.42px;white-space:nowrap">Peripherals </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7417.32px;left:3736.52px;letter-spacing:58.06px;white-space:nowrap">.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7417.32px;left:5168px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7417.32px;left:6333.64px;white-space:nowrap">339,325</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7417.32px;left:8336px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7417.32px;left:9501.64px;white-space:nowrap">339,325</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7613.81px;left:432px;letter-spacing:-1.77px;white-space:nowrap">Textiles, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7613.81px;left:1045.59px;white-space:nowrap">Apparel </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7613.81px;left:1641.53px;white-space:nowrap">&amp; </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7613.81px;left:1792.7px;white-space:nowrap">Luxury </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7613.81px;left:2317.39px;white-space:nowrap">Goods </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7613.81px;left:2895.81px;letter-spacing:49.87px;white-space:nowrap">..........</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7613.81px;left:5168px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7613.81px;left:6200.2px;white-space:nowrap">1,049,375</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7613.81px;left:8336px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7613.81px;left:9368.2px;white-space:nowrap">1,049,375</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7810.29px;left:432px;white-space:nowrap">Thrifts </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7810.29px;left:920.91px;white-space:nowrap">&amp; </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7810.29px;left:1072.08px;white-space:nowrap">Mortgage </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7810.29px;left:1792.47px;white-space:nowrap">Finance </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7810.29px;left:2428.74px;letter-spacing:49.57px;white-space:nowrap">...............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7810.29px;left:5168px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7810.29px;left:6200.2px;white-space:nowrap">5,228,477</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7810.29px;left:8336px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7810.29px;left:9368.2px;white-space:nowrap">5,228,477</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8006.78px;left:432px;letter-spacing:-0.74px;white-space:nowrap">Trading </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8006.78px;left:1013.02px;white-space:nowrap">Companies </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8006.78px;left:1866.77px;white-space:nowrap">&amp; </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8006.78px;left:2017.94px;white-space:nowrap">Distributors </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8006.78px;left:2895.81px;letter-spacing:49.87px;white-space:nowrap">..........</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8006.78px;left:5168px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8006.78px;left:6200.2px;white-space:nowrap">2,575,722</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8006.78px;left:8336px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8006.78px;left:9368.2px;white-space:nowrap">2,575,722</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8203.26px;left:432px;white-space:nowrap">Wireless </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8203.26px;left:1086.92px;letter-spacing:-0.99px;white-space:nowrap">Telecommunication </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8203.26px;left:2500.91px;white-space:nowrap">Services </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8203.26px;left:3176.05px;letter-spacing:50.26px;white-space:nowrap">.......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8203.26px;left:5168px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8203.26px;left:6200.2px;white-space:nowrap">4,288,051</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8203.26px;left:8336px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8203.26px;left:9368.2px;white-space:nowrap">4,288,051</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8399.74px;left:288px;white-space:nowrap">Marketplace </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8399.74px;left:1203.94px;white-space:nowrap">Loans </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8399.74px;left:1774.85px;letter-spacing:49.37px;white-space:nowrap">......................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8399.74px;left:5168px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8399.74px;left:6752px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8399.74px;left:7784.2px;white-space:nowrap">3,187,505</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8399.74px;left:9368.2px;white-space:nowrap">3,187,505</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8596.23px;left:288px;white-space:nowrap">Asset-Backed </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8596.23px;left:1319.56px;white-space:nowrap">Securities </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8596.23px;left:2148.5px;letter-spacing:49.47px;white-space:nowrap">..................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8596.23px;left:5168px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8596.23px;left:6200.2px;white-space:nowrap">7,533,952</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8596.23px;left:8336px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8596.23px;left:9368.2px;white-space:nowrap">7,533,952</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8792.71px;left:288px;white-space:nowrap">Escrows </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8792.71px;left:936.98px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8792.71px;left:1248.39px;white-space:nowrap">Litigation </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8792.71px;left:1930.42px;letter-spacing:-0.99px;white-space:nowrap">Trusts</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8792.71px;left:2428.74px;letter-spacing:49.57px;white-space:nowrap">...............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8792.71px;left:5168px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8792.71px;left:6752px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8792.71px;left:8095.61px;white-space:nowrap">1,050</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8792.71px;left:9679.61px;white-space:nowrap">1,050</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8989.2px;left:288px;white-space:nowrap">Short </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8989.2px;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:8989.2px;left:1111.98px;white-space:nowrap">Investments</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8989.2px;left:2055.09px;letter-spacing:49.44px;white-space:nowrap">...................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8989.2px;left:4628.08px;letter-spacing:-1.32px;white-space:nowrap">2,583,411</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8989.2px;left:6645.05px;white-space:nowrap">359</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8989.2px;left:8336px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8989.2px;left:9368.2px;white-space:nowrap">2,583,770</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9185.68px;left:576px;letter-spacing:-2.96px;white-space:nowrap">Total </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9185.68px;left:958.42px;white-space:nowrap">Investments </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9185.68px;left:1865.45px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9185.68px;left:2034.44px;white-space:nowrap">Securities</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9185.68px;left:2802.39px;letter-spacing:49.79px;white-space:nowrap">...........</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9185.68px;left:4438.23px;white-space:nowrap">$83,759,662</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9185.68px;left:5881.37px;white-space:nowrap">$189,132,204</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:9188.89px;left:6860.12px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9185.68px;left:7695.22px;white-space:nowrap">$3,225,972</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9185.68px;left:9113.12px;letter-spacing:-0.99px;white-space:nowrap">$276,117,838</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:93.3px;position:absolute;top:9653.96px;left:0px;white-space:nowrap">a</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9649.74px;left:42.54px;white-space:nowrap">Includes</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9649.74px;left:567.77px;white-space:nowrap">for</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9649.74px;left:720.9px;white-space:nowrap">eign </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9649.74px;left:1005.43px;white-space:nowrap">securities </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9649.74px;left:1596.13px;white-space:nowrap">valued </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9649.74px;left:2019.26px;white-space:nowrap">at </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9649.74px;left:2165.2px;white-space:nowrap">$21,208,450, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9649.74px;left:2967.85px;white-space:nowrap">which </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9649.74px;left:3339.73px;white-space:nowrap">were </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9649.74px;left:3660.51px;white-space:nowrap">categorized </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9649.74px;left:4375.35px;white-space:nowrap">as </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9649.74px;left:4550.43px;white-space:nowrap">Level </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9649.74px;left:4900.59px;white-space:nowrap">2 </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9649.74px;left:5010.04px;letter-spacing:0px;white-space:nowrap">as </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9649.74px;left:5185.12px;white-space:nowrap">a </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9649.74px;left:5294.57px;white-space:nowrap">result </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9649.74px;left:5651.92px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9649.74px;left:5797.85px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9649.74px;left:6016.76px;white-space:nowrap">application </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9649.74px;left:6680.59px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9649.74px;left:6826.52px;white-space:nowrap">market </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9649.74px;left:7264.02px;white-space:nowrap">level </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9649.74px;left:7570.35px;white-space:nowrap">fair </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9649.74px;left:7789.1px;white-space:nowrap">value </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9649.74px;left:8139.26px;white-space:nowrap">procedures. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9649.74px;left:8868.63px;white-space:nowrap">See </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9649.74px;left:9138.56px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9649.74px;left:9357.46px;white-space:nowrap">Financial </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9841.74px;left:0px;white-space:nowrap">Instrument </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9841.74px;left:656.41px;letter-spacing:-0.96px;white-space:nowrap">Valuation </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9841.74px;left:1230.39px;white-space:nowrap">note </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9841.74px;left:1522.27px;white-space:nowrap">for </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9841.74px;left:1711.88px;white-space:nowrap">more </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9841.74px;left:2047.27px;white-space:nowrap">information.</div></div>
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		<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:-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:-3.2px;white-space:nowrap">Fair </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:-23.73px;left:719.96px;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:1274.08px;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:2719.49px;letter-spacing:-2.91px;white-space:nowrap">(continued)</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:5369.08px;white-space:nowrap">Semiannual </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>
		</div>
		<div style="background-image:url(data:image/png;base64,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			<div style="width:10080px;height:12118px;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:180px;position:absolute;top:7577.92px;left:0px;text-rendering:optimizeLegibility;white-space:nowrap">Significant </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7577.92px;left:880.49px;white-space:nowrap">unobservable </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7577.92px;left:2011.29px;white-space:nowrap">valuation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7577.92px;left:2781.83px;white-space:nowrap">inputs </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7577.92px;left:3312.16px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7577.92px;left:3572.23px;white-space:nowrap">material </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7577.92px;left:4262.43px;white-space:nowrap">Level </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7577.92px;left:4742.75px;white-space:nowrap">3&#160;assets </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7577.92px;left:5463.11px;white-space:nowrap">and/or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7577.92px;left:6023.5px;white-space:nowrap">liabilities&#160;and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7577.92px;left:7104.11px;white-space:nowrap">impact </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7577.92px;left:7684.28px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7577.92px;left:7884.4px;white-space:nowrap">fair </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7577.92px;left:8184.46px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7577.92px;left:8664.79px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7577.92px;left:8904.9px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7577.92px;left:9055.02px;white-space:nowrap">result </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7577.92px;left:9545.19px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7827.92px;left:0px;white-space:nowrap">changes </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7827.92px;left:730.55px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7827.92px;left:920.65px;white-space:nowrap">unobservable </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7827.92px;left:2051.46px;white-space:nowrap">valuation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7827.92px;left:2821.99px;white-space:nowrap">inputs </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7827.92px;left:3352.32px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7827.92px;left:3592.44px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7827.92px;left:3792.57px;white-space:nowrap">February </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7827.92px;left:4562.84px;white-space:nowrap">28, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7827.92px;left:4863.08px;white-space:nowrap">2021, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7827.92px;left:5363.53px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7827.92px;left:5673.69px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7827.92px;left:5913.81px;white-space:nowrap">follows: </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;font-weight:bold;position:absolute;top:1105.29px;left:2033.69px;white-space:nowrap">Balance </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;font-weight:bold;position:absolute;top:1105.29px;left:2539.65px;white-space:nowrap">at</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;font-weight:bold;position:absolute;top:1285.29px;left:1897.39px;white-space:nowrap">Beginning </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;font-weight:bold;position:absolute;top:1285.29px;left:2532.91px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;font-weight:bold;position:absolute;top:1465.29px;left:2266.24px;white-space:nowrap">Period</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;font-weight:bold;position:absolute;top:1465.29px;left:2818.81px;white-space:nowrap">Purchases</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;font-weight:bold;position:absolute;top:1465.29px;left:3954.54px;white-space:nowrap">Sales</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;font-weight:bold;position:absolute;top:1105.29px;left:4625.62px;letter-spacing:-0.84px;white-space:nowrap">Transfer</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;font-weight:bold;position:absolute;top:1285.29px;left:4885.56px;white-space:nowrap">Into</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;font-weight:bold;position:absolute;top:1465.29px;left:4653.93px;white-space:nowrap">Level </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;font-weight:bold;position:absolute;top:1465.29px;left:5002.71px;white-space:nowrap">3</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:87.4px;font-weight:bold;position:absolute;top:1469.25px;left:5071.12px;white-space:nowrap">a</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;font-weight:bold;position:absolute;top:1105.29px;left:5460.62px;letter-spacing:-0.84px;white-space:nowrap">Transfer</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;font-weight:bold;position:absolute;top:1285.29px;left:5583.89px;white-space:nowrap">Out </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;font-weight:bold;position:absolute;top:1285.29px;left:5829.91px;white-space:nowrap">of</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;font-weight:bold;position:absolute;top:1465.29px;left:5485px;white-space:nowrap">Level </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;font-weight:bold;position:absolute;top:1465.29px;left:5833.78px;white-space:nowrap">3</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:87.4px;font-weight:bold;position:absolute;top:1469.25px;left:5902.19px;white-space:nowrap">b</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;font-weight:bold;position:absolute;top:1105.29px;left:6102.33px;white-space:nowrap">Cost </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;font-weight:bold;position:absolute;top:1105.29px;left:6409.8px;white-space:nowrap">Basis</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;font-weight:bold;position:absolute;top:1285.29px;left:6314.44px;white-space:nowrap">Adjust-</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;font-weight:bold;position:absolute;top:1465.29px;left:6335.86px;white-space:nowrap">ments</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:87.4px;font-weight:bold;position:absolute;top:1469.25px;left:6698.12px;white-space:nowrap">c</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;font-weight:bold;position:absolute;top:925.29px;left:7374.88px;white-space:nowrap">Net</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;font-weight:bold;position:absolute;top:1105.29px;left:7073.93px;white-space:nowrap">Realized</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;font-weight:bold;position:absolute;top:1285.29px;left:7299.51px;white-space:nowrap">Gain</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;font-weight:bold;position:absolute;top:1465.29px;left:7204.01px;white-space:nowrap">(Loss)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;font-weight:bold;position:absolute;top:925.29px;left:8209.88px;white-space:nowrap">Net</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;font-weight:bold;position:absolute;top:1105.29px;left:7785.95px;white-space:nowrap">Unr</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;font-weight:bold;position:absolute;top:1105.29px;left:7997.7px;white-space:nowrap">ealized</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;font-weight:bold;position:absolute;top:1285.29px;left:7656.24px;white-space:nowrap">Appreciatio</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;font-weight:bold;position:absolute;top:1285.29px;left:8332.85px;white-space:nowrap">n</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;font-weight:bold;position:absolute;top:1465.29px;left:7581.1px;white-space:nowrap">(</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;font-weight:bold;position:absolute;top:1465.29px;left:7622.04px;white-space:nowrap">Depreciation</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;font-weight:bold;position:absolute;top:1465.29px;left:8367.06px;white-space:nowrap">)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;font-weight:bold;position:absolute;top:1105.29px;left:8771.25px;white-space:nowrap">Balance</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;font-weight:bold;position:absolute;top:1285.29px;left:8867.12px;white-space:nowrap">at </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;font-weight:bold;position:absolute;top:1285.29px;left:9010.68px;white-space:nowrap">End</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;font-weight:bold;position:absolute;top:1465.29px;left:8709.94px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;font-weight:bold;position:absolute;top:1465.29px;left:8860.24px;white-space:nowrap">Period</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;font-weight:bold;position:absolute;top:385.29px;left:9251.1px;white-space:nowrap">Net </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;font-weight:bold;position:absolute;top:385.29px;left:9483.42px;white-space:nowrap">Change </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;font-weight:bold;position:absolute;top:385.29px;left:9968.65px;white-space:nowrap">in</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;font-weight:bold;position:absolute;top:565.29px;left:9455.95px;white-space:nowrap">Unrealized</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;font-weight:bold;position:absolute;top:745.29px;left:9326.24px;white-space:nowrap">Appreciation</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;font-weight:bold;position:absolute;top:925.29px;left:9251.1px;white-space:nowrap">(Depreciation)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;font-weight:bold;position:absolute;top:1105.29px;left:9494.63px;white-space:nowrap">on </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;font-weight:bold;position:absolute;top:1105.29px;left:9674.66px;white-space:nowrap">Assets</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;font-weight:bold;position:absolute;top:1285.29px;left:9667.92px;white-space:nowrap">Held </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;font-weight:bold;position:absolute;top:1285.29px;left:9968.65px;white-space:nowrap">at</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;font-weight:bold;position:absolute;top:1465.29px;left:9428.71px;white-space:nowrap">Period</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;font-weight:bold;position:absolute;top:1465.29px;left:9845.68px;white-space:nowrap">End</div><div style="color:#ffffff;font-family:Arial, Helvetica, sans-serif;font-size:10px;font-weight:bold;position:absolute;top:1705.23px;left:1795.44px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, Helvetica, sans-serif;font-size:10px;font-weight:bold;position:absolute;top:1705.23px;left:2644.44px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, Helvetica, sans-serif;font-size:10px;font-weight:bold;position:absolute;top:1705.23px;left:3436.44px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, Helvetica, sans-serif;font-size:10px;font-weight:bold;position:absolute;top:1705.23px;left:4271.44px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, Helvetica, sans-serif;font-size:10px;font-weight:bold;position:absolute;top:1705.23px;left:5106.44px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, Helvetica, sans-serif;font-size:10px;font-weight:bold;position:absolute;top:1705.23px;left:5941.44px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, Helvetica, sans-serif;font-size:10px;font-weight:bold;position:absolute;top:1705.23px;left:6733.44px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, Helvetica, sans-serif;font-size:10px;font-weight:bold;position:absolute;top:1705.23px;left:7568.44px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, Helvetica, sans-serif;font-size:10px;font-weight:bold;position:absolute;top:1705.23px;left:8403.44px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, Helvetica, sans-serif;font-size:10px;font-weight:bold;position:absolute;top:1705.23px;left:9238.44px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, Helvetica, sans-serif;font-size:10px;font-weight:bold;position:absolute;top:1705.23px;left:10073.44px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1774.86px;left:0px;white-space:nowrap">Franklin </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1774.86px;left:666.8px;white-space:nowrap">Universal </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1774.86px;left:1431.64px;letter-spacing:-1.77px;white-space:nowrap">Trust</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;font-weight:bold;position:absolute;top:1970.26px;left:0px;white-space:nowrap">Assets:</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:2159.47px;left:144px;white-space:nowrap">Investments </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:2159.47px;left:841.49px;white-space:nowrap">in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:2159.47px;left:971.42px;white-space:nowrap">Securities:</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:2348.67px;left:288px;white-space:nowrap">Common </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:2348.67px;left:821.13px;white-space:nowrap">Stocks</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:2348.67px;left:1190.34px;white-space:nowrap">:</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:2537.87px;left:432px;white-space:nowrap">Machinery</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:2537.87px;left:999.41px;letter-spacing:49.34px;white-space:nowrap">.........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:2537.87px;left:2135.94px;white-space:nowrap">$</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:2537.87px;left:2204.35px;white-space:nowrap">158,851</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:2537.87px;left:3249.62px;white-space:nowrap">$</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:2537.87px;left:3318.03px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:2537.87px;left:4084.62px;white-space:nowrap">$</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:2537.87px;left:4153.03px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:2537.87px;left:4919.62px;white-space:nowrap">$</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:2537.87px;left:4988.03px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:2537.87px;left:5351.05px;white-space:nowrap">$</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:2537.87px;left:5419.46px;white-space:nowrap">(158,851)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:2537.87px;left:6546.62px;white-space:nowrap">$</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:2537.87px;left:6615.03px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:2537.87px;left:7381.62px;white-space:nowrap">$</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:2537.87px;left:7450.03px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:2537.87px;left:8216.62px;white-space:nowrap">$</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:2537.87px;left:8285.03px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:2537.87px;left:9051.62px;white-space:nowrap">$</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:2537.87px;left:9120.03px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:2537.87px;left:9886.62px;white-space:nowrap">$</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:2537.87px;left:9955.03px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:2727.08px;left:432px;white-space:nowrap">Oil, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:2727.08px;left:650.77px;white-space:nowrap">Gas </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:2727.08px;left:910.64px;white-space:nowrap">&amp; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:2727.08px;left:1026.87px;white-space:nowrap">Consumable </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:2907.08px;left:576px;white-space:nowrap">Fuels</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:2907.08px;left:915.8px;letter-spacing:49.31px;white-space:nowrap">..........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:2907.08px;left:2526.03px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:2907.08px;left:3318.03px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:2907.08px;left:4153.03px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:2907.08px;left:4803.16px;white-space:nowrap">1,302</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:2907.08px;left:5823.03px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:2907.08px;left:6615.03px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:2907.08px;left:7450.03px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:2907.08px;left:8285.03px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:2907.08px;left:8935.16px;white-space:nowrap">1,302</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:2907.08px;left:9955.03px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:3096.28px;left:288px;letter-spacing:-0.56px;white-space:nowrap">Warrants</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:3096.28px;left:782.46px;white-space:nowrap">:</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:3285.49px;left:432px;white-space:nowrap">Oil, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:3285.49px;left:650.77px;white-space:nowrap">Gas </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:3285.49px;left:910.64px;white-space:nowrap">&amp; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:3285.49px;left:1026.87px;white-space:nowrap">Consumable </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:3465.49px;left:576px;white-space:nowrap">Fuels</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:3465.49px;left:915.8px;letter-spacing:49.31px;white-space:nowrap">..........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:3465.49px;left:2512.18px;white-space:nowrap">90</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:3465.49px;left:3318.03px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:3465.49px;left:4153.03px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:3465.49px;left:4988.03px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:3465.49px;left:5823.03px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:3465.49px;left:6615.03px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:3465.49px;left:7450.03px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:3465.49px;left:8100.16px;white-space:nowrap">2,275</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:3465.49px;left:8935.16px;white-space:nowrap">2,365</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:3465.49px;left:9770.16px;white-space:nowrap">2,275</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:3654.69px;left:288px;white-space:nowrap">Corporate </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:3654.69px;left:869.1px;white-space:nowrap">Bonds</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:3654.69px;left:1217.88px;white-space:nowrap">:</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:3843.89px;left:432px;white-space:nowrap">Hotels, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:3843.89px;left:849.04px;white-space:nowrap">Restaurants </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:3843.89px;left:1546.45px;white-space:nowrap">&amp; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:4023.89px;left:576px;white-space:nowrap">Leisure</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:4023.89px;left:999.05px;letter-spacing:49.34px;white-space:nowrap">.........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:4023.89px;left:2341.16px;white-space:nowrap">5,625</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:4023.89px;left:3318.03px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:4023.89px;left:4153.03px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:4023.89px;left:4988.03px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:4023.89px;left:5658.89px;white-space:nowrap">(540)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:4023.89px;left:6348.28px;white-space:nowrap">(1,893)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:4023.89px;left:7450.03px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:4023.89px;left:8018.28px;white-space:nowrap">(3,192)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:4023.89px;left:9120.03px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:4023.89px;left:9955.03px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:4213.1px;left:432px;white-space:nowrap">Oil, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:4213.1px;left:650.77px;white-space:nowrap">Gas </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:4213.1px;left:910.64px;white-space:nowrap">&amp; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:4213.1px;left:1026.87px;white-space:nowrap">Consumable </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:4393.1px;left:576px;white-space:nowrap">Fuels</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:4393.1px;left:915.8px;letter-spacing:49.31px;white-space:nowrap">..........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:4393.1px;left:2443.78px;white-space:nowrap">481</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:4393.1px;left:3318.03px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:4393.1px;left:4153.03px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:4393.1px;left:4734.75px;white-space:nowrap">33,750</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:4393.1px;left:5556.28px;white-space:nowrap">(3,864)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:4393.1px;left:6615.03px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:4393.1px;left:7450.03px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:4393.1px;left:8100.16px;white-space:nowrap">3,383</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:4393.1px;left:8866.75px;white-space:nowrap">33,750</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:4393.1px;left:9955.03px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:4582.3px;left:288px;white-space:nowrap">Marketplace </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:4582.3px;left:992.22px;white-space:nowrap">Loans</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:4582.3px;left:1327.38px;white-space:nowrap">:</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:4771.51px;left:432px;text-rendering:optimizeLegibility;white-space:nowrap">Diversified </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:4771.51px;left:1040.35px;white-space:nowrap">Financial </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:4951.51px;left:576px;white-space:nowrap">Services</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:4951.51px;left:1082.3px;letter-spacing:49.38px;white-space:nowrap">........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:4951.51px;left:2101.73px;white-space:nowrap">4,023,963</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:4951.51px;left:2996.35px;white-space:nowrap">227,775</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:4951.51px;left:3664.87px;letter-spacing:-1.64px;white-space:nowrap">(1,111,971)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:4951.51px;left:4988.03px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:4951.51px;left:5823.03px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:4951.51px;left:6615.03px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:4951.51px;left:7046.46px;white-space:nowrap">(201,722)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:4951.51px;left:7963.35px;white-space:nowrap">249,460</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:4951.51px;left:8695.73px;white-space:nowrap">3,187,505</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:4951.51px;left:9633.35px;white-space:nowrap">249,460</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:5140.71px;left:288px;white-space:nowrap">Escrows </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:5140.71px;left:786.93px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:5140.71px;left:1026.35px;white-space:nowrap">Litigation </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:5320.71px;left:432px;letter-spacing:-0.74px;white-space:nowrap">Trusts</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:5320.71px;left:832.54px;letter-spacing:49.29px;white-space:nowrap">...........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:5320.71px;left:2512.18px;white-space:nowrap">14</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:5320.71px;left:3318.03px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:5320.71px;left:4153.03px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:5320.71px;left:4988.03px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:5320.71px;left:5823.03px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:5320.71px;left:6615.03px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:5320.71px;left:7450.03px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:5320.71px;left:8100.16px;white-space:nowrap">1,036</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:5320.71px;left:8935.16px;white-space:nowrap">1,050</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:5320.71px;left:9770.16px;white-space:nowrap">1,036</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:5541.91px;left:0px;letter-spacing:-2.27px;white-space:nowrap">Total </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:5541.91px;left:294.07px;white-space:nowrap">Investments </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:5541.91px;left:991.55px;white-space:nowrap">in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:5541.91px;left:1121.48px;white-space:nowrap">Securities</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:5541.91px;left:1665.08px;letter-spacing:51.66px;white-space:nowrap">.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:5541.91px;left:2033.33px;white-space:nowrap">$4,189,024</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:5541.91px;left:2927.94px;white-space:nowrap">$227,775</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:5541.91px;left:3596.46px;letter-spacing:-1.5px;white-space:nowrap">$(1,111,971)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:5541.91px;left:4666.35px;white-space:nowrap">$35,052</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:5541.91px;left:5351.05px;white-space:nowrap">$(163,255)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:5541.91px;left:6279.87px;white-space:nowrap">$(1,893)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:5541.91px;left:6978.05px;white-space:nowrap">$(201,722)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:5541.91px;left:7894.94px;white-space:nowrap">$252,962</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:5541.91px;left:8627.33px;white-space:nowrap">$3,225,972</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:122px;position:absolute;top:5541.91px;left:9564.94px;white-space:nowrap">$252,771</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:93.3px;position:absolute;top:6400.56px;left:0px;white-space:nowrap">a</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6396.34px;left:83.59px;letter-spacing:-0.4px;white-space:nowrap">Transferred </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6396.34px;left:793.43px;white-space:nowrap">into </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6396.34px;left:1041.48px;white-space:nowrap">level </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6396.34px;left:1347.8px;white-space:nowrap">3 </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6396.34px;left:1457.26px;white-space:nowrap">as </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6396.34px;left:1632.34px;white-space:nowrap">a </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6396.34px;left:1741.79px;white-space:nowrap">result </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6396.34px;left:2099.13px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6396.34px;left:2245.07px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6396.34px;left:2463.98px;white-space:nowrap">unavailability </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6396.34px;left:3251.71px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6396.34px;left:3397.65px;white-space:nowrap">a </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6396.34px;left:3507.1px;white-space:nowrap">quoted </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6396.34px;left:3944.91px;white-space:nowrap">market </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6396.34px;left:4382.41px;white-space:nowrap">price </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6396.34px;left:4703.27px;white-space:nowrap">in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6396.34px;left:4841.87px;white-space:nowrap">an </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6396.34px;left:5024.29px;letter-spacing:0px;white-space:nowrap">active </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6396.34px;left:5403.59px;white-space:nowrap">market </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6396.34px;left:5841.09px;white-space:nowrap">for </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6396.34px;left:6030.69px;white-space:nowrap">identical </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6396.34px;left:6548.59px;white-space:nowrap">securities </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6396.34px;left:7139.29px;white-space:nowrap">or </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6396.34px;left:7292.41px;white-space:nowrap">as </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6396.34px;left:7467.49px;white-space:nowrap">a </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6396.34px;left:7576.94px;white-space:nowrap">result </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6396.34px;left:7934.29px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6396.34px;left:8080.23px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6396.34px;left:8299.13px;white-space:nowrap">unreliability </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6396.34px;left:8991.94px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6396.34px;left:9137.88px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6396.34px;left:9356.79px;white-space:nowrap">foreign </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6588.34px;left:0px;white-space:nowrap">exchange </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6588.34px;left:605.55px;white-space:nowrap">rate </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6588.34px;left:868.13px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6588.34px;left:1123.52px;white-space:nowrap">other </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6588.34px;left:1459.06px;text-rendering:optimizeLegibility;white-space:nowrap">significant </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6588.34px;left:2079.06px;white-space:nowrap">observable </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6588.34px;left:2757.42px;white-space:nowrap">valuation </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6588.34px;left:3319.14px;white-space:nowrap">inputs. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6588.34px;left:3742.27px;white-space:nowrap">May </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6588.34px;left:4026.64px;white-space:nowrap">include </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6588.34px;left:4478.91px;white-space:nowrap">amounts </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6588.34px;left:5018.67px;white-space:nowrap">related </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6588.34px;left:5456.33px;white-space:nowrap">to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6588.34px;left:5602.27px;white-space:nowrap">a </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6588.34px;left:5711.72px;white-space:nowrap">corporate </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6588.34px;left:6302.5px;white-space:nowrap">action.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:93.3px;position:absolute;top:6803.61px;left:0px;white-space:nowrap">b</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6799.39px;left:83.59px;letter-spacing:-0.4px;white-space:nowrap">Transferred </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6799.39px;left:793.43px;white-space:nowrap">out </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6799.39px;left:1012.34px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6799.39px;left:1158.27px;white-space:nowrap">Level </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6799.39px;left:1508.43px;white-space:nowrap">3 </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6799.39px;left:1617.88px;white-space:nowrap">as </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6799.39px;left:1792.96px;white-space:nowrap">a </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6799.39px;left:1902.41px;white-space:nowrap">result </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6799.39px;left:2259.76px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6799.39px;left:2405.69px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6799.39px;left:2624.6px;white-space:nowrap">availability </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6799.39px;left:3266.4px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6799.39px;left:3412.34px;white-space:nowrap">a </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6799.39px;left:3521.79px;white-space:nowrap">quoted </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6799.39px;left:3959.6px;white-space:nowrap">price </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6799.39px;left:4280.46px;white-space:nowrap">in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6799.39px;left:4419.05px;white-space:nowrap">an </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6799.39px;left:4601.48px;white-space:nowrap">active </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6799.39px;left:4980.77px;letter-spacing:0px;white-space:nowrap">market </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6799.39px;left:5418.27px;white-space:nowrap">for </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6799.39px;left:5607.88px;white-space:nowrap">identical </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6799.39px;left:6125.77px;white-space:nowrap">securities/ </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6799.39px;left:6752.96px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6799.39px;left:7008.35px;white-space:nowrap">other </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6799.39px;left:7343.9px;text-rendering:optimizeLegibility;white-space:nowrap">significant </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6799.39px;left:7963.9px;white-space:nowrap">observable </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6799.39px;left:8642.26px;white-space:nowrap">valuation </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6799.39px;left:9203.98px;white-space:nowrap">inputs. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6799.39px;left:9627.1px;white-space:nowrap">May </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6991.39px;left:0px;white-space:nowrap">include </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6991.39px;left:452.27px;white-space:nowrap">amounts </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6991.39px;left:992.03px;white-space:nowrap">related </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6991.39px;left:1429.69px;white-space:nowrap">to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6991.39px;left:1575.63px;white-space:nowrap">a </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6991.39px;left:1685.08px;white-space:nowrap">corporate </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6991.39px;left:2275.86px;white-space:nowrap">action.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:93.3px;position:absolute;top:7206.65px;left:0px;white-space:nowrap">c</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7202.43px;left:79.3px;white-space:nowrap">May </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7202.43px;left:363.68px;white-space:nowrap">include </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7202.43px;left:815.94px;white-space:nowrap">accretion, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7202.43px;left:1421.34px;white-space:nowrap">amortization, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7202.43px;left:2208.99px;white-space:nowrap">partnership </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7202.43px;left:2901.88px;white-space:nowrap">adjustments, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7202.43px;left:3682.35px;white-space:nowrap">and/or </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7202.43px;left:4090.87px;white-space:nowrap">other </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7202.43px;left:4426.41px;white-space:nowrap">cost </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7202.43px;left:4703.6px;white-space:nowrap">basis </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7202.43px;left:5046.41px;white-space:nowrap">adjustments.</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:9307.34px;left:0px;white-space:nowrap">Description</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8923.34px;left:3282.03px;white-space:nowrap">Fair </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8923.34px;left:3619.92px;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:9115.34px;left:3317.81px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:9115.34px;left:3504.53px;white-space:nowrap">End </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:9115.34px;left:3851.17px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:9307.34px;left:3411.05px;white-space:nowrap">Period</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:9307.34px;left:4300px;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:9307.34px;left:5055.7px;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:9307.34px;left:6088.75px;white-space:nowrap">Unobservable </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:9307.34px;left:7191.33px;white-space:nowrap">Inputs</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8923.34px;left:8415.7px;white-space:nowrap">Amount </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:9115.34px;left:8249.69px;letter-spacing:-0.29px;white-space:nowrap">(Weighted </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:9307.34px;left:8341.17px;letter-spacing:-0.66px;white-space:nowrap">Average) </div><div style="font-family:Arial, sans-serif;font-size:93.3px;font-weight:bold;position:absolute;top:9310.55px;left:9020px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8731.34px;left:9278.83px;white-space:nowrap">Impact </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8731.34px;left:9838.98px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8923.34px;left:9234.06px;white-space:nowrap">Fair </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8923.34px;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:9115.34px;left:9456.88px;white-space:nowrap">if </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:9115.34px;left:9599.06px;white-space:nowrap">Input </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:9307.34px;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:9310.55px;left:9990px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:9583.82px;left:0px;white-space:nowrap">Franklin </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:9583.82px;left:666.8px;white-space:nowrap">Universal </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:9583.82px;left:1431.64px;letter-spacing:-1.77px;white-space:nowrap">Trust</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:9860.31px;left:0px;white-space:nowrap">Assets:</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10136.79px;left:180px;white-space:nowrap">Investments </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10136.79px;left:1087.03px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10136.79px;left:1256.02px;white-space:nowrap">Securities:</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10413.27px;left:270px;white-space:nowrap">Marketplace </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10413.27px;left:1185.94px;white-space:nowrap">Loans:</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10689.76px;left:403.36px;white-space:nowrap">Lending </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10689.76px;left:1017.27px;white-space:nowrap">Club</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:10687.34px;left:1411.27px;letter-spacing:57.59px;white-space:nowrap">...............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10689.76px;left:3349.22px;white-space:nowrap">$2,718,124</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10689.76px;left:4300px;white-space:nowrap">Discounted </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10689.76px;left:5144.92px;white-space:nowrap">cash </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10689.76px;left:5527.34px;text-rendering:optimizeLegibility;white-space:nowrap">flow</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10689.76px;left:6070px;white-space:nowrap">Loss-adjusted </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10881.76px;left:6160px;white-space:nowrap">discount </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10881.76px;left:6800.39px;white-space:nowrap">rate</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10689.76px;left:8655.31px;white-space:nowrap">7.4%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10689.76px;left:9305.23px;white-space:nowrap">Decrease</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:10692.97px;left:9990px;white-space:nowrap">b</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11158.24px;left:6070px;white-space:nowrap">Projected </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11158.24px;left:6790.39px;white-space:nowrap">loss </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11158.24px;left:7119.38px;white-space:nowrap">rate</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11158.24px;left:8566.33px;white-space:nowrap">18.8%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11158.24px;left:9305.23px;white-space:nowrap">Decrease</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:11161.45px;left:9990px;white-space:nowrap">b</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11434.73px;left:270px;white-space:nowrap">All </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11434.73px;left:492.27px;white-space:nowrap">Other</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:11432.31px;left:940.84px;letter-spacing:57.59px;white-space:nowrap">....................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11434.73px;left:3571.64px;white-space:nowrap">507,848</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:11437.94px;left:4150px;white-space:nowrap">c&#160;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11711.21px;left:270px;letter-spacing:-3.55px;white-space:nowrap">Total</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11711.21px;left:3349.22px;white-space:nowrap">$3,225,972</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)">

			<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:-3.2px;white-space:nowrap">Fair </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:-23.73px;left:719.96px;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:1274.08px;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:2719.49px;letter-spacing:-2.91px;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:928.8px;width:712.8px;transform-origin:top left;transform:scale(1.2,1.2)"><div style="position:absolute;top:0px;left:0px;width:594px;height:774px">
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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:0px;letter-spacing:10.67px;white-space:nowrap">Franklin </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:793.16px;letter-spacing:10.32px;white-space:nowrap">Universal </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:1686.13px;letter-spacing:9.15px;white-space:nowrap">Trust</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:9.16px;white-space:nowrap">Statements </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:178.59px;left:2678.75px;letter-spacing:10.91px;white-space:nowrap">(unaudited)</div></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">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>
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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="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:0px;white-space:nowrap">Semiannual </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:729.38px;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:200px;font-weight:bold;position:absolute;top:1689.48px;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:1689.48px;left:306.56px;letter-spacing:-3px;white-space:nowrap">New </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:1689.48px;left:749.93px;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:1689.48px;left:1861.4px;letter-spacing:-3.71px;white-space:nowrap">Pronouncements</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2057.21px;left:0px;white-space:nowrap">In </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2057.21px;left:200.13px;white-space:nowrap">March </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2057.21px;left:750.23px;white-space:nowrap">2020, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2057.21px;left:1250.68px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2057.21px;left:1550.92px;white-space:nowrap">Financial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2057.21px;left:2311.35px;white-space:nowrap">Accounting </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2057.21px;left:3251.95px;white-space:nowrap">Standards </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2057.21px;left:4122.51px;white-space:nowrap">Board </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2057.21px;left:4652.84px;letter-spacing:-0.9px;white-space:nowrap">(FASB) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2057.21px;left:5282.93px;white-space:nowrap">issued </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2057.21px;left:5843.32px;white-space:nowrap">Accounting </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2057.21px;left:6783.93px;white-space:nowrap">Standards </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2057.21px;left:7654.48px;white-space:nowrap">Update </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2057.21px;left:8284.92px;white-space:nowrap">(ASU) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2057.21px;left:8824.92px;white-space:nowrap">No. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2057.21px;left:9155.04px;white-space:nowrap">2020-</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2307.21px;left:0px;white-space:nowrap">04, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2307.21px;left:300.23px;white-space:nowrap">Reference </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2307.21px;left:1180.72px;white-space:nowrap">Rate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2307.21px;left:1610.95px;white-space:nowrap">Reform </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2307.21px;left:2251.05px;letter-spacing:-2.85px;white-space:nowrap">(Topic </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2307.21px;left:2781.21px;white-space:nowrap">848) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2307.21px;left:3191.48px;white-space:nowrap">&#8211; </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2307.21px;left:3341.6px;white-space:nowrap">Facilitation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2307.21px;left:4251.97px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2307.21px;left:4452.1px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2307.21px;left:4752.33px;letter-spacing:-0.41px;white-space:nowrap">Effects </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2307.21px;left:5349.29px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2307.21px;left:5549.41px;white-space:nowrap">Reference </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2307.21px;left:6429.9px;white-space:nowrap">Rate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2307.21px;left:6860.13px;white-space:nowrap">Reform </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2307.21px;left:7500.23px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2307.21px;left:7750.46px;white-space:nowrap">Financial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2307.21px;left:8520.82px;white-space:nowrap">Reporting. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2307.21px;left:9398.06px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2557.21px;left:0px;white-space:nowrap">amendments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2557.21px;left:1090.55px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2557.21px;left:1280.65px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2557.21px;left:1570.96px;white-space:nowrap">ASU </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2557.21px;left:1991.07px;white-space:nowrap">provides </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2557.21px;left:2721.45px;white-space:nowrap">optional </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2557.21px;left:3401.98px;white-space:nowrap">temporary </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2557.21px;left:4262.26px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2557.21px;left:4972.68px;white-space:nowrap">reporting </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2557.21px;left:5733.11px;white-space:nowrap">relief </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2557.21px;left:6173.26px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2557.21px;left:6583.27px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2557.21px;left:6883.51px;letter-spacing:-0.46px;white-space:nowrap">effect </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2557.21px;left:7370.51px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2557.21px;left:7570.63px;white-space:nowrap">certain </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2557.21px;left:8160.91px;white-space:nowrap">types </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2557.21px;left:8641.14px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2557.21px;left:8841.27px;white-space:nowrap">contract </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2807.21px;left:0px;text-rendering:optimizeLegibility;white-space:nowrap">modifications </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2807.21px;left:1100.48px;white-space:nowrap">due </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2807.21px;left:1450.81px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2807.21px;left:1650.94px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2807.21px;left:1951.17px;white-space:nowrap">planned </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2807.21px;left:2641.82px;white-space:nowrap">discontinuation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2807.21px;left:3892.68px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2807.21px;left:4092.8px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2807.21px;left:4393.04px;white-space:nowrap">London </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2807.21px;left:5043.69px;white-space:nowrap">Interbank </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2807.21px;left:5844.2px;letter-spacing:-0.41px;white-space:nowrap">Offered </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2807.21px;left:6491.25px;white-space:nowrap">Rate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2807.21px;left:6921.47px;white-space:nowrap">(LIBOR) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2807.21px;left:7631.54px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2807.21px;left:7981.88px;white-space:nowrap">other </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2807.21px;left:8442.16px;letter-spacing:-0.18px;white-space:nowrap">interbank-offered </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3057.21px;left:0px;white-space:nowrap">based </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3057.21px;left:540.44px;white-space:nowrap">reference </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3057.21px;left:1350.88px;white-space:nowrap">rates </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3057.21px;left:1801.05px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3057.21px;left:2041.17px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3057.21px;left:2241.3px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3057.21px;left:2541.53px;white-space:nowrap">end </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3057.21px;left:2891.87px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3057.21px;left:3091.99px;white-space:nowrap">2021. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3057.21px;left:3589.19px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3057.21px;left:3939.43px;white-space:nowrap">ASU </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3057.21px;left:4359.55px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3057.21px;left:4539.55px;letter-spacing:-0.33px;white-space:nowrap">effective </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3057.21px;left:5256.65px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3057.21px;left:5516.72px;white-space:nowrap">certain </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3057.21px;left:6106.99px;white-space:nowrap">reference </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3057.21px;left:6917.43px;white-space:nowrap">rate-related </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3057.21px;left:7887.92px;white-space:nowrap">contract </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3057.21px;left:8578.21px;text-rendering:optimizeLegibility;white-space:nowrap">modifications </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3307.21px;left:0px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3307.21px;left:350.24px;white-space:nowrap">occur </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3307.21px;left:840.41px;white-space:nowrap">during </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3307.21px;left:1390.78px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3307.21px;left:1691.02px;white-space:nowrap">period </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3307.21px;left:2241.39px;white-space:nowrap">March </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3307.21px;left:2791.49px;white-space:nowrap">12, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3307.21px;left:3091.73px;white-space:nowrap">2020 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3307.21px;left:3542.17px;white-space:nowrap">through </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3307.21px;left:4202.67px;white-space:nowrap">December </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3307.21px;left:5082.98px;white-space:nowrap">31, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3307.21px;left:5383.21px;white-space:nowrap">2022.&#160;Management </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3307.21px;left:6984.32px;white-space:nowrap">has </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3307.21px;left:7324.54px;white-space:nowrap">reviewed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3307.21px;left:8094.9px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3307.21px;left:8395.14px;white-space:nowrap">requirements </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3307.21px;left:9495.62px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3557.21px;left:0px;white-space:nowrap">believes </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3557.21px;left:710.42px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3557.21px;left:1010.65px;white-space:nowrap">adoption </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3557.21px;left:1751.31px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3557.21px;left:1951.44px;white-space:nowrap">this </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3557.21px;left:2271.62px;white-space:nowrap">ASU </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3557.21px;left:2691.74px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3557.21px;left:2991.71px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3557.21px;left:3291.94px;white-space:nowrap">have </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3557.21px;left:3732.28px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3557.21px;left:3882.39px;white-space:nowrap">material </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3557.21px;left:4572.6px;white-space:nowrap">impact </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3557.21px;left:5152.76px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3557.21px;left:5402.99px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3557.21px;left:5703.22px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3557.21px;left:6413.64px;white-space:nowrap">statements.</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:4140.28px;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:4140.28px;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:4140.28px;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:4508.01px;left:0px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4508.01px;left:360.18px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4508.01px;left:820.46px;white-space:nowrap">has</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4508.01px;left:1160.68px;white-space:nowrap">evaluated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4508.01px;left:1991.34px;white-space:nowrap">subsequent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4508.01px;left:2972.11px;white-space:nowrap">even</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4508.01px;left:3362.43px;white-space:nowrap">ts </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4508.01px;left:3552.45px;white-space:nowrap">through </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4508.01px;left:4212.95px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4508.01px;left:4513.18px;white-space:nowrap">issuance </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4508.01px;left:5273.61px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4508.01px;left:5473.74px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4508.01px;left:5773.97px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4508.01px;left:6484.39px;white-space:nowrap">statements </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4508.01px;left:7414.8px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4508.01px;left:7765.14px;white-space:nowrap">determined </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4508.01px;left:8715.67px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4508.01px;left:9065.92px;white-space:nowrap">no </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4508.01px;left:9316.14px;white-space:nowrap">events </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4758.01px;left:0px;white-space:nowrap">have </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4758.01px;left:440.33px;white-space:nowrap">occurred </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4758.01px;left:1190.65px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4758.01px;left:1540.9px;white-space:nowrap">require </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4758.01px;left:2151.21px;white-space:nowrap">disclosure</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4758.01px;left:2961.56px;white-space:nowrap">.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:200px;position:absolute;top:5241.08px;left:0px;white-space:nowrap">Abbreviations</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:93.3px;position:absolute;top:388.17px;left:39.23px;white-space:nowrap">a</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:383.95px;left:151px;white-space:nowrap">Represents </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:383.95px;left:858.42px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:383.95px;left:1077.33px;white-space:nowrap">directional </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:383.95px;left:1711.86px;white-space:nowrap">change </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:383.95px;left:2178.81px;white-space:nowrap">in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:383.95px;left:2317.41px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:383.95px;left:2536.31px;white-space:nowrap">fair </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:383.95px;left:2755.06px;white-space:nowrap">value </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:383.95px;left:3105.22px;white-space:nowrap">that </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:383.95px;left:3360.61px;white-space:nowrap">would </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:383.95px;left:3739.83px;white-space:nowrap">result </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:383.95px;left:4097.17px;white-space:nowrap">from </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:383.95px;left:4396.08px;white-space:nowrap">a </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:383.95px;left:4505.53px;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:5125.53px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:383.95px;left:5380.92px;white-space:nowrap">reasonable </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:383.95px;left:6066.62px;white-space:nowrap">increase </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:383.95px;left:6599.05px;white-space:nowrap">in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:383.95px;left:6737.64px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:383.95px;left:6956.55px;white-space:nowrap">corresponding </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:383.95px;left:7824.52px;white-space:nowrap">input. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:383.95px;left:8174.83px;letter-spacing:-3.59px;white-space:nowrap">A </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:383.95px;left:8291.63px;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:8911.63px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:383.95px;left:9167.02px;white-space:nowrap">reasonable </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:575.95px;left:151px;white-space:nowrap">decrease </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:575.95px;left:727.25px;white-space:nowrap">in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:575.95px;left:865.84px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:575.95px;left:1084.75px;white-space:nowrap">input </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:575.95px;left:1405.77px;white-space:nowrap">would </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:575.95px;left:1784.98px;white-space:nowrap">have </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:575.95px;left:2106px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:575.95px;left:2324.91px;white-space:nowrap">opposite </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:575.95px;left:2857.48px;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:3249.2px;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:3891.08px;white-space:nowrap">impacts, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:575.95px;left:4416.16px;white-space:nowrap">if </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:575.95px;left:4518.27px;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:4793.19px;white-space:nowrap">to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:575.95px;left:4939.12px;white-space:nowrap">fair </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:575.95px;left:5157.87px;white-space:nowrap">value </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:575.95px;left:5508.03px;white-space:nowrap">and/or </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:575.95px;left:5916.55px;white-space:nowrap">net </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:575.95px;left:6135.45px;white-space:nowrap">assets </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:575.95px;left:6551.23px;white-space:nowrap">have </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:575.95px;left:6872.25px;white-space:nowrap">been </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:575.95px;left:7200.61px;white-space:nowrap">indicated.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:93.3px;position:absolute;top:776.66px;left:39.23px;white-space:nowrap">b</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:772.44px;left:151px;white-space:nowrap">Represents </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:772.44px;left:858.42px;white-space:nowrap">a </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:772.44px;left:967.87px;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:1587.87px;white-space:nowrap">impact </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:772.44px;left:2010.84px;white-space:nowrap">to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:772.44px;left:2156.78px;white-space:nowrap">fair </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:772.44px;left:2375.53px;white-space:nowrap">value </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:772.44px;left:2725.69px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:772.44px;left:2981.08px;white-space:nowrap">net </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:772.44px;left:3199.98px;white-space:nowrap">assets.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:93.3px;position:absolute;top:973.14px;left:41.37px;white-space:nowrap">c</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:968.92px;left:151px;white-space:nowrap">Includes </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:968.92px;left:676.23px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:968.92px;left:1194.12px;white-space:nowrap">instruments </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:968.92px;left:1908.81px;white-space:nowrap">with </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:968.92px;left:2178.58px;white-space:nowrap">values </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:968.92px;left:2594.36px;white-space:nowrap">derived </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:968.92px;left:3061.16px;white-space:nowrap">using </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:968.92px;left:3411.31px;white-space:nowrap">private </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:968.92px;left:3841.62px;white-space:nowrap">transaction </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:968.92px;left:4519.98px;white-space:nowrap">prices </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:968.92px;left:4906.47px;white-space:nowrap">or </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:968.92px;left:5059.59px;white-space:nowrap">non-public </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:968.92px;left:5701.47px;white-space:nowrap">third </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:968.92px;left:5993.19px;white-space:nowrap">party </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:968.92px;left:6321.39px;white-space:nowrap">pricing </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:968.92px;left:6744.36px;white-space:nowrap">information </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:968.92px;left:7429.91px;white-space:nowrap">which </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:968.92px;left:7801.78px;white-space:nowrap">is </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:968.92px;left:7933.03px;white-space:nowrap">unobservable. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:968.92px;left:8793.81px;white-space:nowrap">May </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:968.92px;left:9078.19px;white-space:nowrap">also </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:968.92px;left:9355.38px;white-space:nowrap">include </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:968.92px;left:9807.64px;white-space:nowrap">fair </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1160.92px;left:151px;white-space:nowrap">value </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1160.92px;left:501.16px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1160.92px;left:647.09px;white-space:nowrap">immaterial </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1160.92px;left:1288.66px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1160.92px;left:1806.55px;white-space:nowrap">instruments </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1160.92px;left:2521.23px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1160.92px;left:2776.62px;white-space:nowrap">developed </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1160.92px;left:3418.66px;white-space:nowrap">using </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1160.92px;left:3768.81px;white-space:nowrap">various </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1160.92px;left:4228.27px;white-space:nowrap">valuation </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1160.92px;left:4789.98px;white-space:nowrap">techniques </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1160.92px;left:5461.16px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1160.92px;left:5716.55px;white-space:nowrap">unobservable </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1160.92px;left:6540.84px;white-space:nowrap">inputs. </div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:5721.06px;left:0px;white-space:nowrap">Currency</div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:5996.1px;left:0px;white-space:nowrap">USD</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6013.03px;left:1116px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6013.03px;left:1622.95px;white-space:nowrap">States </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6013.03px;left:2121px;white-space:nowrap">Dollar</div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:5721.06px;left:5220px;white-space:nowrap">Selected </div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:5721.06px;left:6010.4px;white-space:nowrap">Portfolio</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5998.47px;left:5220px;white-space:nowrap">ADR</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5998.47px;left:6336px;white-space:nowrap">American </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5998.47px;left:7056.23px;white-space:nowrap">Depositary </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5998.47px;left:7865.45px;white-space:nowrap">Receipt</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6258.96px;left:5220px;white-space:nowrap">FRN</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6258.96px;left:6336px;white-space:nowrap">Floating </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6258.96px;left:6949.67px;white-space:nowrap">Rate </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6258.96px;left:7332.09px;white-space:nowrap">Note</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6519.44px;left:5220px;white-space:nowrap">LIBOR</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6519.44px;left:6336px;white-space:nowrap">London </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6519.44px;left:6914.36px;white-space:nowrap">Inter-Bank </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6519.44px;left:7696.94px;letter-spacing:-0.36px;white-space:nowrap">Offered </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6519.44px;left:8272.09px;white-space:nowrap">Rate</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6779.93px;left:5220px;white-space:nowrap">PIK</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6779.93px;left:6336px;white-space:nowrap">Payment-In-Kind</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:-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:-3.2px;white-space:nowrap">Fair </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:-23.73px;left:719.96px;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:1274.08px;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:2719.49px;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:928.8px;width:712.8px;transform-origin:top left;transform:scale(1.2,1.2)"><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:7910.95px;letter-spacing:10.67px;white-space:nowrap">Franklin </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:8704.11px;letter-spacing:10.32px;white-space:nowrap">Universal </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:9597.08px;letter-spacing:9.15px;white-space:nowrap">Trust</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>
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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:5369.08px;white-space:nowrap">Semiannual </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:55px;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">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 style="height:610px;left:54px;position:absolute;top:121px;width:504px">
			<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">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:408.64px;left:3478.71px;white-space:nowrap">open-market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:658.64px;left:0px;white-space:nowrap">share </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:658.64px;left:500.27px;white-space:nowrap">repurchase </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:658.64px;left:1450.81px;white-space:nowrap">program, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:658.64px;left:2221.08px;white-space:nowrap">pursuant </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:658.64px;left:2971.58px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:658.64px;left:3171.71px;white-space:nowrap">which </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:658.64px;left:3681.91px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:658.64px;left:3982.15px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:658.64px;left:4442.43px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:0px;white-space:nowrap">purchase </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:790.49px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:1250.77px;white-space:nowrap">shares, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:1891.05px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:2301.06px;white-space:nowrap">time </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:2691.12px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:2891.25px;white-space:nowrap">time, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:3331.32px;white-space:nowrap">up </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:3581.54px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:3781.67px;white-space:nowrap">10% </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:4191.94px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:4392.07px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;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:1158.64px;left:587.02px;white-space:nowrap">common </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:1327.24px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:1917.51px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:2107.62px;white-space:nowrap">open-market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:3168.11px;white-space:nowrap">transactions, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:4238.61px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:4438.74px;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">discretion </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:820.37px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:1020.5px;white-space:nowrap">management. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:2167.91px;white-space:nowrap">This </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:2557.97px;white-space:nowrap">authorization </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:3638.67px;white-space:nowrap">remains </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:4328.88px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:0px;letter-spacing:-0.46px;white-space:nowrap">effect.</div></div>
		</div>


</div></div><div data-page="" style="page-break-after:always;margin:-8px;position:relative;height:928.8px;width:712.8px;transform-origin:top left;transform:scale(1.2,1.2)"><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:10.67px;white-space:nowrap">Franklin </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:793.16px;letter-spacing:10.32px;white-space:nowrap">Universal </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:1686.13px;letter-spacing:9.15px;white-space:nowrap">Trust</div></div>
		</div>
		<div style="height:55px;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>
		</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">
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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">34</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="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">Semiannual </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:729.38px;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="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;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:947.2px;white-space:nowrap">Dividend </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:1697.61px;white-space:nowrap">Reinvestment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:2848.1px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:3198.43px;white-space:nowrap">Cash </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:3668.64px;white-space:nowrap">Purchase </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:4479.08px;white-space:nowrap">Plan </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:4889.36px;white-space:nowrap">(Plan) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:5419.51px;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:5916.45px;white-space:nowrap">you </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:6256.67px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:6406.79px;white-space:nowrap">prompt </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:7017.01px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:7367.34px;white-space:nowrap">simple </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:7937.49px;white-space:nowrap">way </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:8307.6px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:8507.72px;white-space:nowrap">reinvest </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:9188px;white-space:nowrap">dividends </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:0px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:350.33px;white-space:nowrap">capital </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:920.65px;white-space:nowrap">gain </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:1310.98px;white-space:nowrap">distributions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:2321.46px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:2511.56px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:3101.84px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:3301.96px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:3602.2px;white-space:nowrap">Fund. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:4109.24px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:4469.41px;white-space:nowrap">Plan </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:4879.69px;white-space:nowrap">also </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:5259.9px;white-space:nowrap">allows </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:5810.1px;white-space:nowrap">you </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:6150.32px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:6350.45px;white-space:nowrap">purchase </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:7140.94px;white-space:nowrap">additional </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:7961.57px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:8551.85px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:8751.97px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:9052.21px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:9512.49px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:0px;white-space:nowrap">making </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:630.26px;white-space:nowrap">voluntary </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:1410.64px;white-space:nowrap">cash </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:1840.87px;white-space:nowrap">payments. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:2711.34px;white-space:nowrap">American </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:3521.6px;white-space:nowrap">Stock </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:4018.54px;letter-spacing:-0.74px;white-space:nowrap">Transfer </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:4732.03px;white-space:nowrap">&amp; </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:4898.85px;letter-spacing:-1.11px;white-space:nowrap">Trust </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:5352.19px;letter-spacing:-1.48px;white-space:nowrap">Company, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:6209.21px;white-space:nowrap">LLC </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:6589.42px;white-space:nowrap">(Plan </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:7049.71px;white-space:nowrap">Agent), </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:7680.06px;letter-spacing:-4.64px;white-space:nowrap">P.O. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:8066.95px;white-space:nowrap">Box </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:8427.13px;white-space:nowrap">922, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:8827.47px;letter-spacing:-1.34px;white-space:nowrap">Wall </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:9220.78px;white-space:nowrap">Street </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:0px;white-space:nowrap">Station, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:660.41px;white-space:nowrap">New </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:1067.26px;letter-spacing:-2.75px;white-space:nowrap">York, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:1520.86px;letter-spacing:-1.08px;white-space:nowrap">NY </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:1817.67px;white-space:nowrap">10269-0560, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:2878.59px;white-space:nowrap">acts </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:3258.72px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:3498.84px;white-space:nowrap">your </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:3899px;white-space:nowrap">Plan </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:4299.35px;white-space:nowrap">Agent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:4819.75px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:5009.85px;white-space:nowrap">administering </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:6130.37px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:6430.61px;white-space:nowrap">Plan.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:0px;letter-spacing:-4.13px;white-space:nowrap">You </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:353.76px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:663.93px;white-space:nowrap">automatically </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:1764.4px;white-space:nowrap">enrolled </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:2454.87px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:2644.98px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:2945.21px;white-space:nowrap">Plan </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:3355.49px;white-space:nowrap">unless </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:3925.81px;white-space:nowrap">you </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:4266.04px;white-space:nowrap">elect </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:4696.26px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:4896.39px;white-space:nowrap">receive </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:5526.65px;white-space:nowrap">dividends </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:6337.18px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:6547.24px;white-space:nowrap">distributions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:7557.71px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:7747.82px;white-space:nowrap">cash. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:8228.06px;white-space:nowrap">If </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:8378.09px;white-space:nowrap">you </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:8718.31px;white-space:nowrap">own </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:9098.53px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:9688.8px;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">your </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:400.17px;white-space:nowrap">own </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:780.38px;white-space:nowrap">name, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:1330.66px;white-space:nowrap">you </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:1670.89px;white-space:nowrap">should </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:2251.32px;white-space:nowrap">notify </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:2731.55px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:3031.79px;white-space:nowrap">Plan </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:3432.13px;white-space:nowrap">Agent, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:4002.54px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:4192.65px;white-space:nowrap">writing, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:4812.8px;white-space:nowrap">if </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:4952.81px;white-space:nowrap">you </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:5293.04px;white-space:nowrap">wish </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:5703.13px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:5903.26px;white-space:nowrap">receive </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:6533.53px;white-space:nowrap">dividends </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:7344.05px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:7554.11px;white-space:nowrap">distributions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:8564.59px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:8754.7px;white-space:nowrap">cash.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1838.64px;left:0px;white-space:nowrap">If </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1838.64px;left:150.03px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1838.64px;left:450.26px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1838.64px;left:910.55px;white-space:nowrap">declares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1838.64px;left:1640.92px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1838.64px;left:1791.04px;white-space:nowrap">dividend </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1838.64px;left:2511.56px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1838.64px;left:2721.62px;white-space:nowrap">capital </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1838.64px;left:3291.94px;white-space:nowrap">gain </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1838.64px;left:3682.27px;white-space:nowrap">distribution </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1838.64px;left:4602.74px;white-space:nowrap">payable </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1838.64px;left:5283.28px;white-space:nowrap">either </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1838.64px;left:5783.55px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1838.64px;left:5973.66px;white-space:nowrap">cash </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1838.64px;left:6403.89px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1838.64px;left:6613.95px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1838.64px;left:6804.05px;white-space:nowrap">stock </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1838.64px;left:7274.18px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1838.64px;left:7474.31px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1838.64px;left:7774.54px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1838.64px;left:8234.82px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1838.64px;left:8585.16px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1838.64px;left:8885.39px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1838.64px;left:9485.51px;white-space:nowrap">price </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2088.64px;left:0px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2088.64px;left:200.13px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2088.64px;left:790.4px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2088.64px;left:1040.63px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2088.64px;left:1340.86px;white-space:nowrap">valuation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2088.64px;left:2111.4px;white-space:nowrap">date </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2088.64px;left:2511.74px;white-space:nowrap">equals </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2088.64px;left:3092.17px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2088.64px;left:3302.23px;white-space:nowrap">exceeds </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2088.64px;left:4022.67px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2088.64px;left:4322.9px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2088.64px;left:4623.13px;white-space:nowrap">asset </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2088.64px;left:5103.37px;white-space:nowrap">value, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2088.64px;left:5633.7px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2088.64px;left:5933.94px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2088.64px;left:6394.22px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2088.64px;left:6694.19px;white-space:nowrap">issue </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2088.64px;left:7164.4px;white-space:nowrap">new </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2088.64px;left:7544.62px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2088.64px;left:8134.89px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2088.64px;left:8335.02px;white-space:nowrap">you </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2088.64px;left:8675.24px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2088.64px;left:8875.37px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2088.64px;left:9175.61px;white-space:nowrap">higher </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2088.64px;left:9725.98px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2338.64px;left:0px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2338.64px;left:300.23px;white-space:nowrap">asset </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2338.64px;left:780.47px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2338.64px;left:1260.79px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2338.64px;left:1470.85px;white-space:nowrap">95% </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2338.64px;left:1881.12px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2338.64px;left:2081.25px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2338.64px;left:2381.48px;white-space:nowrap">then </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2338.64px;left:2781.83px;white-space:nowrap">current </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2338.64px;left:3392.05px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2338.64px;left:3992.17px;white-space:nowrap">price. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2338.64px;left:4482.33px;white-space:nowrap">Whenever </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2338.64px;left:5352.71px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2338.64px;left:5652.95px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2338.64px;left:6113.23px;white-space:nowrap">declares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2338.64px;left:6843.6px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2338.64px;left:6993.72px;white-space:nowrap">distribution </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2338.64px;left:7914.2px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2338.64px;left:8324.21px;white-space:nowrap">capital </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2338.64px;left:8894.53px;white-space:nowrap">gains </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2338.64px;left:9374.85px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2338.64px;left:9584.91px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2588.64px;left:0px;white-space:nowrap">income </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2588.64px;left:630.26px;white-space:nowrap">dividend </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2588.64px;left:1350.79px;white-space:nowrap">payable </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2588.64px;left:2031.33px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2588.64px;left:2221.44px;white-space:nowrap">either </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2588.64px;left:2721.71px;white-space:nowrap">cash </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2588.64px;left:3151.93px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2588.64px;left:3361.99px;white-space:nowrap">shares, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2588.64px;left:4002.28px;white-space:nowrap">if </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2588.64px;left:4142.29px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2588.64px;left:4442.52px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2588.64px;left:4742.75px;white-space:nowrap">asset </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2588.64px;left:5222.99px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2588.64px;left:5703.31px;white-space:nowrap">per </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2588.64px;left:6013.48px;white-space:nowrap">share </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2588.64px;left:6513.75px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2588.64px;left:6713.88px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2588.64px;left:7014.11px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2588.64px;left:7601.13px;white-space:nowrap">common </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2588.64px;left:8341.35px;white-space:nowrap">stock </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2588.64px;left:8811.47px;white-space:nowrap">exceeds </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2588.64px;left:9531.91px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2838.64px;left:0px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2838.64px;left:600.12px;white-space:nowrap">price </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2838.64px;left:1040.27px;white-space:nowrap">per </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2838.64px;left:1350.44px;white-space:nowrap">share </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2838.64px;left:1850.71px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2838.64px;left:2100.94px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2838.64px;left:2401.17px;white-space:nowrap">valuation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2838.64px;left:3171.71px;white-space:nowrap">date, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2838.64px;left:3622.06px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2838.64px;left:3922.29px;white-space:nowrap">Plan </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2838.64px;left:4322.64px;white-space:nowrap">Agent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2838.64px;left:4843.04px;white-space:nowrap">shall </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2838.64px;left:5263.24px;white-space:nowrap">apply </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2838.64px;left:5743.56px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2838.64px;left:6043.8px;white-space:nowrap">amount </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2838.64px;left:6694.19px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2838.64px;left:6894.32px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2838.64px;left:7324.54px;white-space:nowrap">dividend </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2838.64px;left:8045.07px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2838.64px;left:8255.13px;white-space:nowrap">distribution </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2838.64px;left:9175.61px;white-space:nowrap">payable </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3088.64px;left:0px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3088.64px;left:200.13px;white-space:nowrap">participants </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3088.64px;left:1170.62px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3088.64px;left:1370.74px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3088.64px;left:1670.98px;white-space:nowrap">purchase </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3088.64px;left:2461.46px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3088.64px;left:2661.59px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3088.64px;left:3251.87px;white-space:nowrap">(less </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3088.64px;left:3681.91px;white-space:nowrap">their </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3088.64px;left:4082.08px;white-space:nowrap">pro </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3088.64px;left:4392.25px;white-space:nowrap">rata </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3088.64px;left:4752.42px;white-space:nowrap">share </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3088.64px;left:5252.7px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3088.64px;left:5452.82px;white-space:nowrap">brokerage </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3088.64px;left:6313.36px;white-space:nowrap">commissions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3088.64px;left:7403.55px;white-space:nowrap">incurred </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3088.64px;left:8103.87px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3088.64px;left:8473.97px;white-space:nowrap">respect </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3088.64px;left:9114.26px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3088.64px;left:9314.38px;white-space:nowrap">open </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3338.64px;left:0px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3338.64px;left:600.12px;white-space:nowrap">purchases </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3338.64px;left:1480.61px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3338.64px;left:1670.71px;white-space:nowrap">connection </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3338.64px;left:2591.37px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3338.64px;left:2961.47px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3338.64px;left:3261.71px;white-space:nowrap">reinvestment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3338.64px;left:4342.15px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3338.64px;left:4542.28px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3338.64px;left:4972.5px;white-space:nowrap">dividend </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3338.64px;left:5693.03px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3338.64px;left:5903.09px;white-space:nowrap">distribution). </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3338.64px;left:6933.52px;white-space:nowrap">If </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3338.64px;left:7083.54px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3338.64px;left:7383.78px;white-space:nowrap">price </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3338.64px;left:7823.94px;white-space:nowrap">exceeds </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3338.64px;left:8544.38px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3338.64px;left:8844.61px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3338.64px;left:9144.84px;white-space:nowrap">asset </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3338.64px;left:9625.08px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3588.64px;left:0px;white-space:nowrap">before </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3588.64px;left:560.39px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3588.64px;left:860.63px;white-space:nowrap">Plan </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3588.64px;left:1260.97px;white-space:nowrap">Agent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3588.64px;left:1781.37px;white-space:nowrap">has </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3588.64px;left:2121.59px;white-space:nowrap">completed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3588.64px;left:3002.08px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3588.64px;left:3232.09px;white-space:nowrap">purchases, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3588.64px;left:4162.59px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3588.64px;left:4462.82px;white-space:nowrap">average </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3588.64px;left:5163.31px;white-space:nowrap">purchase </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3588.64px;left:5953.8px;white-space:nowrap">price </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3588.64px;left:6393.96px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3588.64px;left:6784.01px;white-space:nowrap">exceed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3588.64px;left:7414.45px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3588.64px;left:7714.69px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3588.64px;left:8014.92px;white-space:nowrap">asset </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3588.64px;left:8495.16px;white-space:nowrap">value, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3588.64px;left:9025.49px;white-space:nowrap">resulting </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3588.64px;left:9755.86px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3838.64px;left:0px;white-space:nowrap">fewer </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3838.64px;left:490.17px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3838.64px;left:1080.44px;white-space:nowrap">being </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3838.64px;left:1570.87px;white-space:nowrap">acquired </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3838.64px;left:2311.35px;white-space:nowrap">than </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3838.64px;left:2711.69px;white-space:nowrap">if </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3838.64px;left:2851.7px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3838.64px;left:3151.93px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3838.64px;left:3612.22px;white-space:nowrap">had </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3838.64px;left:3962.55px;white-space:nowrap">issued </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3838.64px;left:4532.87px;white-space:nowrap">new </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3838.64px;left:4913.09px;white-space:nowrap">shares. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3838.64px;left:5543.44px;white-space:nowrap">All </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3838.64px;left:5793.49px;white-space:nowrap">reinvestments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3838.64px;left:6963.93px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3838.64px;left:7274.09px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3838.64px;left:7464.2px;white-space:nowrap">full </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3838.64px;left:7744.31px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3838.64px;left:8094.64px;white-space:nowrap">fractional </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3838.64px;left:8875.02px;white-space:nowrap">shares, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3838.64px;left:9515.3px;white-space:nowrap">carried </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4088.64px;left:0px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4088.64px;left:200.13px;white-space:nowrap">three </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4088.64px;left:660.41px;white-space:nowrap">decimal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4088.64px;left:1330.66px;white-space:nowrap">places. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4088.64px;left:1947.74px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4088.64px;left:2307.92px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4088.64px;left:2768.2px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4088.64px;left:3068.17px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4088.64px;left:3368.41px;white-space:nowrap">issue </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4088.64px;left:3838.62px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4088.64px;left:4428.9px;white-space:nowrap">under </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4088.64px;left:4939.28px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4088.64px;left:5239.51px;white-space:nowrap">Plan </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4088.64px;left:5649.79px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4088.64px;left:5849.91px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4088.64px;left:6000.03px;white-space:nowrap">price </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4088.64px;left:6440.19px;white-space:nowrap">below </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4088.64px;left:6960.5px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4088.64px;left:7260.73px;white-space:nowrap">asset </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4088.64px;left:7740.97px;white-space:nowrap">value.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4518.64px;left:0px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4518.64px;left:360.18px;white-space:nowrap">Plan </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4518.64px;left:770.45px;white-space:nowrap">permits </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4518.64px;left:1410.56px;white-space:nowrap">you </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4518.64px;left:1750.78px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4518.64px;left:2001.01px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4518.64px;left:2151.12px;white-space:nowrap">voluntary </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4518.64px;left:2931.5px;white-space:nowrap">basis </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4518.64px;left:3401.72px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4518.64px;left:3601.85px;white-space:nowrap">submit </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4518.64px;left:4182.01px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4518.64px;left:4372.12px;white-space:nowrap">cash </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4518.64px;left:4802.34px;white-space:nowrap">payments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4518.64px;left:5632.73px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4518.64px;left:5832.86px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4518.64px;left:6133.1px;white-space:nowrap">less </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4518.64px;left:6503.2px;white-space:nowrap">than </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4518.64px;left:6903.54px;white-space:nowrap">$100 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4518.64px;left:7353.98px;white-space:nowrap">each </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4518.64px;left:7794.32px;white-space:nowrap">up </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4518.64px;left:8044.54px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4518.64px;left:8244.67px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4518.64px;left:8394.79px;white-space:nowrap">total </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4518.64px;left:8785.02px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4518.64px;left:8985.15px;white-space:nowrap">$5,000 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4768.64px;left:0px;white-space:nowrap">per </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4768.64px;left:310.17px;white-space:nowrap">month </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4768.64px;left:860.45px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4768.64px;left:1060.58px;white-space:nowrap">purchase </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4768.64px;left:1851.06px;white-space:nowrap">additional </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4768.64px;left:2671.7px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4768.64px;left:3261.97px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4768.64px;left:3462.1px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4768.64px;left:3762.33px;white-space:nowrap">Fund. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4768.64px;left:4272.63px;white-space:nowrap">It </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4768.64px;left:4422.66px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4768.64px;left:4602.66px;white-space:nowrap">entirely </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4768.64px;left:5232.92px;white-space:nowrap">up </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4768.64px;left:5483.14px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4768.64px;left:5683.27px;white-space:nowrap">you </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4768.64px;left:6023.5px;white-space:nowrap">whether </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4768.64px;left:6713.88px;white-space:nowrap">you </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4768.64px;left:7054.1px;white-space:nowrap">wish </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4768.64px;left:7464.2px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4768.64px;left:7664.33px;white-space:nowrap">buy </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4768.64px;left:8004.55px;white-space:nowrap">additional </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4768.64px;left:8825.19px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4768.64px;left:9415.46px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5018.64px;left:0px;white-space:nowrap">voluntary </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5018.64px;left:780.38px;white-space:nowrap">cash </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5018.64px;left:1210.61px;white-space:nowrap">payments, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5018.64px;left:2091.01px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5018.64px;left:2441.34px;white-space:nowrap">you </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5018.64px;left:2781.56px;white-space:nowrap">do </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5018.64px;left:3031.79px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5018.64px;left:3332.02px;white-space:nowrap">have </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5018.64px;left:3772.35px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5018.64px;left:3972.48px;white-space:nowrap">send </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5018.64px;left:4412.81px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5018.64px;left:4602.92px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5018.64px;left:4903.15px;white-space:nowrap">same </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5018.64px;left:5393.32px;white-space:nowrap">amount </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5018.64px;left:6043.71px;white-space:nowrap">each </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5018.64px;left:6484.04px;white-space:nowrap">time </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5018.64px;left:6874.1px;white-space:nowrap">if </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5018.64px;left:7014.11px;white-space:nowrap">you </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5018.64px;left:7354.34px;white-space:nowrap">do. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5018.64px;left:7651.32px;white-space:nowrap">These </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5018.64px;left:8201.6px;white-space:nowrap">payments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5018.64px;left:9031.99px;white-space:nowrap">should </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5268.64px;left:0px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5268.64px;left:250.22px;white-space:nowrap">made </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5268.64px;left:750.5px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5268.64px;left:990.62px;white-space:nowrap">check </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5268.64px;left:1510.84px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5268.64px;left:1720.9px;white-space:nowrap">money </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5268.64px;left:2311.17px;white-space:nowrap">order </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5268.64px;left:2781.39px;white-space:nowrap">payable </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5268.64px;left:3461.92px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5268.64px;left:3652.12px;white-space:nowrap">American </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5268.64px;left:4462.38px;white-space:nowrap">Stock </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5268.64px;left:4959.32px;letter-spacing:-0.74px;white-space:nowrap">Transfer </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5268.64px;left:5672.81px;white-space:nowrap">&amp; </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5268.64px;left:5839.63px;letter-spacing:-1.11px;white-space:nowrap">Trust </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5268.64px;left:6292.97px;letter-spacing:-1.48px;white-space:nowrap">Company, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5268.64px;left:7149.99px;white-space:nowrap">LLC </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5268.64px;left:7530.21px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5268.64px;left:7880.54px;white-space:nowrap">sent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5268.64px;left:8270.77px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5268.64px;left:8460.97px;white-space:nowrap">American </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5268.64px;left:9271.23px;white-space:nowrap">Stock </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5518.64px;left:0px;letter-spacing:-0.74px;white-space:nowrap">Transfer </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5518.64px;left:713.5px;white-space:nowrap">&amp; </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5518.64px;left:880.31px;letter-spacing:-1.11px;white-space:nowrap">Trust </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5518.64px;left:1333.65px;letter-spacing:-1.48px;white-space:nowrap">Company, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5518.64px;left:2190.67px;white-space:nowrap">LLC, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5518.64px;left:2620.9px;letter-spacing:-4.64px;white-space:nowrap">P.O. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5518.64px;left:3007.79px;white-space:nowrap">Box </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5518.64px;left:3367.97px;white-space:nowrap">922, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5518.64px;left:3768.31px;letter-spacing:-1.34px;white-space:nowrap">Wall </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5518.64px;left:4161.62px;white-space:nowrap">Street </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5518.64px;left:4691.87px;white-space:nowrap">Station, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5518.64px;left:5352.28px;white-space:nowrap">New </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5518.64px;left:5759.12px;letter-spacing:-2.75px;white-space:nowrap">York, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5518.64px;left:6212.72px;letter-spacing:-1.08px;white-space:nowrap">NY </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5518.64px;left:6509.53px;white-space:nowrap">10269-0560, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5518.64px;left:7560.53px;white-space:nowrap">Attn: </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5518.64px;left:7980.73px;white-space:nowrap">Franklin </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5518.64px;left:8670.94px;white-space:nowrap">Universal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5518.64px;left:9467.93px;letter-spacing:-1.11px;white-space:nowrap">Trust.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5948.64px;left:0px;letter-spacing:-3.3px;white-space:nowrap">Your </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5948.64px;left:413.7px;white-space:nowrap">cash </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5948.64px;left:843.93px;white-space:nowrap">payment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5948.64px;left:1584.32px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5948.64px;left:1884.29px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5948.64px;left:2134.51px;white-space:nowrap">aggregated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5948.64px;left:3095.33px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5948.64px;left:3465.44px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5948.64px;left:3765.67px;white-space:nowrap">payments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5948.64px;left:4596.06px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5948.64px;left:4796.19px;white-space:nowrap">other </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5948.64px;left:5256.47px;white-space:nowrap">participants </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5948.64px;left:6226.96px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5948.64px;left:6577.29px;white-space:nowrap">invested </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5948.64px;left:7297.73px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5948.64px;left:7547.96px;white-space:nowrap">your </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5948.64px;left:7948.13px;white-space:nowrap">behalf </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5948.64px;left:8488.56px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5948.64px;left:8728.68px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5948.64px;left:9028.92px;white-space:nowrap">Plan </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5948.64px;left:9429.26px;white-space:nowrap">Agent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6198.64px;left:0px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6198.64px;left:190.11px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6198.64px;left:780.38px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6198.64px;left:980.51px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6198.64px;left:1280.74px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6198.64px;left:1741.03px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6198.64px;left:2091.27px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6198.64px;left:2401.44px;white-space:nowrap">purchased </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6198.64px;left:3292.03px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6198.64px;left:3482.14px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6198.64px;left:3782.37px;white-space:nowrap">open </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6198.64px;left:4232.81px;white-space:nowrap">market.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6628.64px;left:0px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6628.64px;left:360.18px;white-space:nowrap">Plan </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6628.64px;left:760.52px;white-space:nowrap">Agent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6628.64px;left:1280.92px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6628.64px;left:1580.89px;white-space:nowrap">invest </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6628.64px;left:2101.11px;white-space:nowrap">cash </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6628.64px;left:2531.34px;white-space:nowrap">payments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6628.64px;left:3361.73px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6628.64px;left:3611.95px;white-space:nowrap">approximately </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6628.64px;left:4782.48px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6628.64px;left:5082.71px;white-space:nowrap">5th </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6628.64px;left:5382.95px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6628.64px;left:5583.08px;white-space:nowrap">each </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6628.64px;left:6023.41px;white-space:nowrap">month </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6628.64px;left:6573.69px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6628.64px;left:6763.8px;white-space:nowrap">which </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6628.64px;left:7274px;white-space:nowrap">no </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6628.64px;left:7524.23px;white-space:nowrap">dividend </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6628.64px;left:8244.76px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6628.64px;left:8454.81px;white-space:nowrap">distribution </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6628.64px;left:9375.29px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6878.64px;left:0px;white-space:nowrap">payable </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6878.64px;left:680.54px;white-space:nowrap">and, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6878.64px;left:1080.88px;white-space:nowrap">during </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6878.64px;left:1631.25px;white-space:nowrap">each </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6878.64px;left:2071.58px;white-space:nowrap">month </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6878.64px;left:2621.87px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6878.64px;left:2811.97px;white-space:nowrap">which </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6878.64px;left:3322.18px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6878.64px;left:3472.29px;white-space:nowrap">dividend </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6878.64px;left:4192.82px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6878.64px;left:4402.88px;white-space:nowrap">distribution </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6878.64px;left:5323.36px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6878.64px;left:5503.36px;white-space:nowrap">payable, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6878.64px;left:6233.91px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6878.64px;left:6533.88px;white-space:nowrap">invest </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6878.64px;left:7054.1px;white-space:nowrap">cash </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6878.64px;left:7484.33px;white-space:nowrap">payments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6878.64px;left:8314.72px;white-space:nowrap">beginning </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6878.64px;left:9145.46px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6878.64px;left:9395.68px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7128.64px;left:0px;white-space:nowrap">dividend </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7128.64px;left:720.53px;white-space:nowrap">payment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7128.64px;left:1460.92px;white-space:nowrap">date. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7128.64px;left:1911.27px;white-space:nowrap">Under </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7128.64px;left:2451.53px;white-space:nowrap">no </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7128.64px;left:2701.76px;white-space:nowrap">circumstances </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7128.64px;left:3902.08px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7128.64px;left:4202.05px;white-space:nowrap">interest </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7128.64px;left:4842.33px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7128.64px;left:5092.56px;white-space:nowrap">paid </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7128.64px;left:5482.88px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7128.64px;left:5733.11px;white-space:nowrap">your </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7128.64px;left:6133.27px;white-space:nowrap">funds </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7128.64px;left:6623.61px;white-space:nowrap">held </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7128.64px;left:7013.94px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7128.64px;left:7254.05px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7128.64px;left:7554.29px;white-space:nowrap">Plan </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7128.64px;left:7954.63px;white-space:nowrap">Agent. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7128.64px;left:8515.11px;letter-spacing:-1.03px;white-space:nowrap">Accordingly, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7128.64px;left:9532.18px;white-space:nowrap">you </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7378.64px;left:0px;white-space:nowrap">should </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7378.64px;left:580.43px;white-space:nowrap">send </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7378.64px;left:1020.76px;white-space:nowrap">any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7378.64px;left:1360.99px;white-space:nowrap">voluntary </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7378.64px;left:2141.37px;white-space:nowrap">cash </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7378.64px;left:2571.59px;white-space:nowrap">payments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7378.64px;left:3401.98px;white-space:nowrap">you </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7378.64px;left:3742.21px;white-space:nowrap">wish </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7378.64px;left:4152.3px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7378.64px;left:4352.43px;white-space:nowrap">make </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7378.64px;left:4842.6px;white-space:nowrap">shortly </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7378.64px;left:5422.76px;white-space:nowrap">before </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7378.64px;left:5983.15px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7378.64px;left:6233.38px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7378.64px;left:7153.77px;white-space:nowrap">date </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7378.64px;left:7554.11px;white-space:nowrap">but </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7378.64px;left:7854.35px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7378.64px;left:8044.45px;text-rendering:optimizeLegibility;white-space:nowrap">sufficient </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7378.64px;left:8804.79px;white-space:nowrap">time </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7378.64px;left:9194.85px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7378.64px;left:9394.98px;white-space:nowrap">ensure </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7628.64px;left:0px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7628.64px;left:350.24px;white-space:nowrap">your </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7628.64px;left:750.41px;white-space:nowrap">payment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7628.64px;left:1490.8px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7628.64px;left:1790.77px;white-space:nowrap">reach </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7628.64px;left:2291.04px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7628.64px;left:2591.28px;white-space:nowrap">Plan </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7628.64px;left:2991.62px;white-space:nowrap">Agent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7628.64px;left:3512.02px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7628.64px;left:3812.26px;white-space:nowrap">less </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7628.64px;left:4182.36px;white-space:nowrap">than </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7628.64px;left:4582.71px;white-space:nowrap">two </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7628.64px;left:4912.82px;white-space:nowrap">business </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7628.64px;left:5673.25px;white-space:nowrap">days </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7628.64px;left:6103.48px;white-space:nowrap">before </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7628.64px;left:6663.87px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7628.64px;left:6914.09px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7628.64px;left:7834.48px;white-space:nowrap">date. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7628.64px;left:8284.83px;white-space:nowrap">Payments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7628.64px;left:9135.18px;white-space:nowrap">received </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7878.64px;left:0px;white-space:nowrap">less </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7878.64px;left:370.11px;white-space:nowrap">than </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7878.64px;left:770.45px;white-space:nowrap">two </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7878.64px;left:1100.57px;white-space:nowrap">business </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7878.64px;left:1861px;white-space:nowrap">days </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7878.64px;left:2291.22px;white-space:nowrap">before </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7878.64px;left:2851.61px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7878.64px;left:3101.84px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7878.64px;left:4022.23px;white-space:nowrap">date </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7878.64px;left:4422.57px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7878.64px;left:4722.54px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7878.64px;left:4972.76px;white-space:nowrap">invested </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7878.64px;left:5693.2px;white-space:nowrap">during </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7878.64px;left:6243.57px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7878.64px;left:6543.81px;white-space:nowrap">next </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7878.64px;left:6934.04px;white-space:nowrap">month </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7878.64px;left:7484.33px;letter-spacing:-2.48px;white-space:nowrap">or, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7878.64px;left:7734.46px;white-space:nowrap">if </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7878.64px;left:7874.47px;white-space:nowrap">there </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7878.64px;left:8334.76px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7878.64px;left:8644.92px;white-space:nowrap">more </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7878.64px;left:9105.03px;white-space:nowrap">than </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7878.64px;left:9505.37px;white-space:nowrap">30 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8128.64px;left:0px;white-space:nowrap">days </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8128.64px;left:430.22px;white-space:nowrap">until </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8128.64px;left:810.44px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8128.64px;left:1110.67px;white-space:nowrap">next </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8128.64px;left:1500.91px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8128.64px;left:2421.3px;white-space:nowrap">date, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8128.64px;left:2871.65px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8128.64px;left:3171.62px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8128.64px;left:3421.85px;white-space:nowrap">returned </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8128.64px;left:4142.29px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8128.64px;left:4342.41px;white-space:nowrap">you. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8128.64px;left:4729.39px;letter-spacing:-4.13px;white-space:nowrap">You </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8128.64px;left:5083.15px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8128.64px;left:5473.21px;white-space:nowrap">obtain </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8128.64px;left:6013.65px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8128.64px;left:6163.77px;white-space:nowrap">refund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8128.64px;left:6724.16px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8128.64px;left:6924.29px;white-space:nowrap">any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8128.64px;left:7264.51px;white-space:nowrap">cash </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8128.64px;left:7694.74px;white-space:nowrap">payment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8128.64px;left:8435.13px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8128.64px;left:8675.24px;white-space:nowrap">written </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8128.64px;left:9255.41px;white-space:nowrap">notice, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8128.64px;left:9835.75px;white-space:nowrap">if </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8378.64px;left:0px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8378.64px;left:300.23px;white-space:nowrap">Plan </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8378.64px;left:700.58px;white-space:nowrap">Agent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8378.64px;left:1220.98px;white-space:nowrap">receives </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8378.64px;left:1941.24px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8378.64px;left:2241.47px;white-space:nowrap">written </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8378.64px;left:2821.64px;white-space:nowrap">notice </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8378.64px;left:3351.97px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8378.64px;left:3652.21px;white-space:nowrap">less </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8378.64px;left:4022.31px;white-space:nowrap">than </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8378.64px;left:4422.66px;white-space:nowrap">48 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8378.64px;left:4672.88px;white-space:nowrap">hours </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8378.64px;left:5173.15px;white-space:nowrap">before </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8378.64px;left:5733.54px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8378.64px;left:5983.77px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8378.64px;left:6904.16px;white-space:nowrap">date.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8808.64px;left:0px;white-space:nowrap">There </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8808.64px;left:520.22px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8808.64px;left:700.22px;white-space:nowrap">no </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8808.64px;left:950.45px;white-space:nowrap">direct </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8808.64px;left:1440.62px;white-space:nowrap">charge </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8808.64px;left:2041px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8808.64px;left:2241.12px;white-space:nowrap">participants </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8808.64px;left:3211.61px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8808.64px;left:3471.68px;white-space:nowrap">reinvesting </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8808.64px;left:4392.16px;white-space:nowrap">dividends </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8808.64px;left:5202.69px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8808.64px;left:5553.02px;white-space:nowrap">capital </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8808.64px;left:6123.34px;white-space:nowrap">gain </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8808.64px;left:6513.66px;white-space:nowrap">distributions, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8808.64px;left:7574.15px;white-space:nowrap">since </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8808.64px;left:8044.37px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8808.64px;left:8344.6px;white-space:nowrap">Plan </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8808.64px;left:8744.94px;letter-spacing:-0.41px;white-space:nowrap">Agent&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8808.64px;left:9392.08px;white-space:nowrap">fees </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8808.64px;left:9782.31px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9058.64px;left:0px;white-space:nowrap">paid </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9058.64px;left:390.32px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9058.64px;left:630.44px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9058.64px;left:930.67px;white-space:nowrap">Fund. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9058.64px;left:1440.97px;letter-spacing:-1.1px;white-space:nowrap">However, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9058.64px;left:2241.3px;white-space:nowrap">when </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9058.64px;left:2721.62px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9058.64px;left:3311.89px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9058.64px;left:3622.06px;white-space:nowrap">purchased </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9058.64px;left:4512.66px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9058.64px;left:4702.76px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9058.64px;left:5003px;white-space:nowrap">open </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9058.64px;left:5453.44px;white-space:nowrap">market, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9058.64px;left:6103.56px;white-space:nowrap">each </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9058.64px;left:6543.9px;white-space:nowrap">participant </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9058.64px;left:7424.38px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9058.64px;left:7724.36px;white-space:nowrap">pay </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9058.64px;left:8064.58px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9058.64px;left:8214.7px;white-space:nowrap">pro </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9058.64px;left:8524.86px;white-space:nowrap">rata </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9058.64px;left:8885.04px;white-space:nowrap">portion </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9058.64px;left:9485.42px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9058.64px;left:9685.55px;white-space:nowrap">any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9308.64px;left:0px;white-space:nowrap">brokerage </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9308.64px;left:860.54px;white-space:nowrap">commissions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9308.64px;left:1950.73px;white-space:nowrap">incurred. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9308.64px;left:2697.8px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9308.64px;left:3057.98px;white-space:nowrap">Plan </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9308.64px;left:3458.32px;white-space:nowrap">Agent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9308.64px;left:3978.72px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9308.64px;left:4278.69px;white-space:nowrap">deduct </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9308.64px;left:4869.14px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9308.64px;left:5019.26px;white-space:nowrap">$5.00 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9308.64px;left:5519.71px;white-space:nowrap">service </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9308.64px;left:6139.86px;white-space:nowrap">fee </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9308.64px;left:6440.1px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9308.64px;left:6850.11px;white-space:nowrap">each </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9308.64px;left:7290.44px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9308.64px;left:7490.57px;white-space:nowrap">your </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9308.64px;left:7890.73px;white-space:nowrap">voluntary </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9308.64px;left:8671.11px;white-space:nowrap">cash </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9308.64px;left:9101.34px;white-space:nowrap">payments.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9738.64px;left:0px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9738.64px;left:360.18px;white-space:nowrap">automatic </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9738.64px;left:1190.57px;white-space:nowrap">reinvestment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9738.64px;left:2271.01px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9738.64px;left:2471.13px;white-space:nowrap">dividends </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9738.64px;left:3281.66px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9738.64px;left:3631.99px;white-space:nowrap">capital </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9738.64px;left:4202.31px;white-space:nowrap">gain </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9738.64px;left:4592.64px;white-space:nowrap">distributions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9738.64px;left:5603.12px;white-space:nowrap">does </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9738.64px;left:6043.45px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9738.64px;left:6343.68px;white-space:nowrap">relieve </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9738.64px;left:6923.94px;white-space:nowrap">you </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9738.64px;left:7264.16px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9738.64px;left:7464.29px;white-space:nowrap">any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9738.64px;left:7804.51px;white-space:nowrap">taxes </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9738.64px;left:8284.75px;white-space:nowrap">which </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9738.64px;left:8794.95px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9738.64px;left:9185.01px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9738.64px;left:9435.23px;white-space:nowrap">payable </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9988.64px;left:0px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9988.64px;left:250.22px;white-space:nowrap">dividends </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9988.64px;left:1060.75px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9988.64px;left:1270.81px;white-space:nowrap">distributions. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9988.64px;left:2331.3px;white-space:nowrap">In </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9988.64px;left:2531.43px;white-space:nowrap">connection </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9988.64px;left:3452.08px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9988.64px;left:3822.19px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9988.64px;left:4122.42px;white-space:nowrap">reinvestment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9988.64px;left:5202.86px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9988.64px;left:5402.99px;white-space:nowrap">dividends </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9988.64px;left:6213.52px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9988.64px;left:6563.85px;white-space:nowrap">capital </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9988.64px;left:7134.17px;white-space:nowrap">gain </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9988.64px;left:7524.49px;white-space:nowrap">distributions, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9988.64px;left:8584.98px;white-space:nowrap">if </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9988.64px;left:8724.99px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9988.64px;left:9025.22px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9988.64px;left:9485.51px;white-space:nowrap">issues </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10238.64px;left:0px;white-space:nowrap">new </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10238.64px;left:380.21px;white-space:nowrap">shares, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10238.64px;left:1020.5px;white-space:nowrap">shareholders </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10238.64px;left:2111.13px;white-space:nowrap">receiving </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10238.64px;left:2881.49px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10238.64px;left:3311.72px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10238.64px;left:3901.99px;white-space:nowrap">generally </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10238.64px;left:4682.46px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10238.64px;left:4982.43px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10238.64px;left:5232.66px;white-space:nowrap">treated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10238.64px;left:5843.06px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10238.64px;left:6083.17px;white-space:nowrap">having </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10238.64px;left:6663.6px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10238.64px;left:6813.72px;white-space:nowrap">distribution </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10238.64px;left:7734.2px;white-space:nowrap">equal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10238.64px;left:8224.63px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10238.64px;left:8424.76px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10238.64px;left:8724.99px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10238.64px;left:9325.11px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10488.64px;left:0px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10488.64px;left:200.13px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10488.64px;left:500.36px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10488.64px;left:1090.63px;white-space:nowrap">received, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10488.64px;left:1871.02px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10488.64px;left:2221.35px;white-space:nowrap">if </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10488.64px;left:2361.36px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10488.64px;left:2951.63px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10488.64px;left:3261.8px;white-space:nowrap">purchased </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10488.64px;left:4152.39px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10488.64px;left:4402.62px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10488.64px;left:4702.85px;white-space:nowrap">open </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10488.64px;left:5153.29px;white-space:nowrap">market, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10488.64px;left:5803.42px;white-space:nowrap">shareholders </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10488.64px;left:6894.05px;white-space:nowrap">generally </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10488.64px;left:7674.52px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10488.64px;left:7974.49px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10488.64px;left:8224.72px;white-space:nowrap">treated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10488.64px;left:8835.12px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10488.64px;left:9075.23px;white-space:nowrap">having </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10738.64px;left:0px;white-space:nowrap">received </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10738.64px;left:730.37px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10738.64px;left:880.49px;white-space:nowrap">distribution </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10738.64px;left:1800.97px;white-space:nowrap">equal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10738.64px;left:2291.4px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10738.64px;left:2491.52px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10738.64px;left:2791.76px;white-space:nowrap">cash </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10738.64px;left:3221.98px;white-space:nowrap">distribution </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10738.64px;left:4142.46px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10738.64px;left:4492.71px;white-space:nowrap">would </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10738.64px;left:5013.02px;white-space:nowrap">have </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10738.64px;left:5453.35px;white-space:nowrap">been </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10738.64px;left:5903.79px;white-space:nowrap">paid.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11168.64px;left:0px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11168.64px;left:360.18px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11168.64px;left:820.46px;white-space:nowrap">does </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11168.64px;left:1260.79px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11168.64px;left:1561.03px;white-space:nowrap">issue </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11168.64px;left:2031.24px;white-space:nowrap">new </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11168.64px;left:2411.46px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11168.64px;left:3001.73px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11168.64px;left:3191.84px;white-space:nowrap">connection </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11168.64px;left:4112.49px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11168.64px;left:4482.6px;white-space:nowrap">voluntary </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11168.64px;left:5262.98px;white-space:nowrap">cash </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11168.64px;left:5693.2px;white-space:nowrap">payments. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11168.64px;left:6563.67px;white-space:nowrap">All </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11168.64px;left:6813.72px;white-space:nowrap">investments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11168.64px;left:7824.11px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11168.64px;left:8134.28px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11168.64px;left:8324.38px;white-space:nowrap">full </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11168.64px;left:8604.49px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11168.64px;left:8954.82px;white-space:nowrap">fractional </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11418.64px;left:0px;white-space:nowrap">shares, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11418.64px;left:640.28px;white-space:nowrap">carried </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11418.64px;left:1240.49px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11418.64px;left:1440.62px;white-space:nowrap">three </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11418.64px;left:1900.9px;white-space:nowrap">decimal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11418.64px;left:2571.15px;white-space:nowrap">places. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11418.64px;left:3191.48px;white-space:nowrap">If </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11418.64px;left:3341.51px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11418.64px;left:3641.75px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11418.64px;left:4241.87px;white-space:nowrap">price </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11418.64px;left:4682.02px;white-space:nowrap">exceeds </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11418.64px;left:5402.46px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11418.64px;left:5702.7px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11418.64px;left:6002.93px;white-space:nowrap">asset </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11418.64px;left:6483.16px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11418.64px;left:6963.49px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11418.64px;left:7163.61px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11418.64px;left:7463.85px;white-space:nowrap">time </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11418.64px;left:7853.91px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11418.64px;left:8154.14px;white-space:nowrap">Plan </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11418.64px;left:8554.48px;white-space:nowrap">Agent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11418.64px;left:9074.88px;white-space:nowrap">purchases </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11668.64px;left:0px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11668.64px;left:300.23px;white-space:nowrap">additional </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11668.64px;left:1120.87px;white-space:nowrap">shares, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11668.64px;left:1761.15px;white-space:nowrap">you </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11668.64px;left:2101.38px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11668.64px;left:2401.35px;white-space:nowrap">receive </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11668.64px;left:3031.61px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11668.64px;left:3621.88px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11668.64px;left:3822.01px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11668.64px;left:3972.13px;white-space:nowrap">price </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11668.64px;left:4412.29px;white-space:nowrap">greater </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11668.64px;left:5032.62px;white-space:nowrap">than </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11668.64px;left:5432.96px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11668.64px;left:5733.19px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11668.64px;left:6033.43px;white-space:nowrap">asset </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11668.64px;left:6513.66px;white-space:nowrap">value.</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:-4.13px;white-space:nowrap">You </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:353.76px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:653.73px;white-space:nowrap">receive </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:1283.99px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:1434.11px;white-space:nowrap">monthly </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:2114.38px;white-space:nowrap">account </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:2794.83px;white-space:nowrap">statement </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:3635.24px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:4045.25px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:4345.49px;white-space:nowrap">Plan </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:4745.83px;white-space:nowrap">Agent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:5266.23px;white-space:nowrap">showing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:5976.65px;white-space:nowrap">total </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:6366.88px;white-space:nowrap">dividends </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:7177.41px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:7527.74px;white-space:nowrap">capital </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:8098.07px;white-space:nowrap">gain </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:8488.39px;white-space:nowrap">distributions, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:9548.88px;white-space:nowrap">date </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">investment, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:1170.53px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:1760.8px;white-space:nowrap">acquired </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:2501.28px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:2851.61px;white-space:nowrap">price </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:3291.77px;white-space:nowrap">per </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:3601.93px;white-space:nowrap">share, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:4152.22px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:4502.55px;white-space:nowrap">total </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:4892.78px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:5483.06px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:5683.18px;white-space:nowrap">record </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:6243.4px;white-space:nowrap">held </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:6633.72px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:6873.84px;white-space:nowrap">you </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:7214.06px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:7564.39px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:7804.51px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:8104.75px;white-space:nowrap">Plan </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:8505.09px;white-space:nowrap">Agent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:9025.49px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:9285.56px;white-space:nowrap">you. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:9672.54px;letter-spacing:-4.13px;white-space:nowrap">You </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">entitled </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:940.61px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:1140.73px;white-space:nowrap">vote </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:1530.97px;white-space:nowrap">all </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:1761.06px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:2351.34px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:2551.46px;white-space:nowrap">record, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:3161.69px;white-space:nowrap">including </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:3922.21px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:4512.48px;white-space:nowrap">purchased </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:5403.08px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:5663.14px;white-space:nowrap">you </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:6003.37px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:6243.49px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:6543.72px;white-space:nowrap">Plan </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:6944.06px;white-space:nowrap">Agent, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:7514.47px;white-space:nowrap">and, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:7914.81px;white-space:nowrap">if </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:8054.82px;white-space:nowrap">you </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:8395.05px;white-space:nowrap">vote </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:8785.28px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:9025.4px;letter-spacing:-1.91px;white-space:nowrap">proxy, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:9552.22px;white-space:nowrap">your </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:0px;white-space:nowrap">proxy </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:490.17px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:790.14px;white-space:nowrap">include </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:1410.56px;white-space:nowrap">all </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:1640.65px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:2070.88px;white-space:nowrap">shares.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:0px;white-space:nowrap">As </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:260.07px;white-space:nowrap">long </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:650.39px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:890.51px;white-space:nowrap">you </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:1230.73px;white-space:nowrap">participate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:2111.22px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:2301.33px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:2601.56px;white-space:nowrap">Plan, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:3061.85px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:3362.08px;white-space:nowrap">Plan </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:3762.42px;white-space:nowrap">Agent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:4282.82px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:4582.79px;white-space:nowrap">hold </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:4973.12px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:5273.35px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:5863.62px;white-space:nowrap">it </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:6003.63px;white-space:nowrap">has </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:6343.86px;white-space:nowrap">acquired </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:7084.34px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:7344.4px;white-space:nowrap">you </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:7684.63px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:7874.74px;white-space:nowrap">safekeeping, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:8945.51px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:9135.62px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:9365.63px;white-space:nowrap">name </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:0px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:210.06px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:400.17px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:700.4px;white-space:nowrap">name </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:1200.67px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:1400.8px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:1630.81px;white-space:nowrap">nominee. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:2418.05px;white-space:nowrap">This </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:2808.11px;white-space:nowrap">convenience </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:3868.86px;white-space:nowrap">provides </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:4599.23px;white-space:nowrap">added </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:5149.78px;white-space:nowrap">protection </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:5990.27px;white-space:nowrap">against </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:6620.71px;white-space:nowrap">loss, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:7040.83px;white-space:nowrap">theft </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:7441.08px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:7651.14px;white-space:nowrap">inadvertent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:8591.75px;white-space:nowrap">destruction </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:9522.25px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:0px;text-rendering:optimizeLegibility;white-space:nowrap">certificates. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:960.29px;letter-spacing:-1.1px;white-space:nowrap">However, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:1760.63px;white-space:nowrap">you </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:2100.85px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:2490.91px;white-space:nowrap">request </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:3141.3px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:3491.54px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:3641.66px;text-rendering:optimizeLegibility;white-space:nowrap">certificate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:4461.94px;white-space:nowrap">representing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:5512.59px;white-space:nowrap">your </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:5912.75px;white-space:nowrap">Plan </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:6323.03px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:6913.3px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:7163.53px;white-space:nowrap">issued </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:7733.85px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:7933.97px;white-space:nowrap">you.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2088.64px;left:0px;letter-spacing:-4.13px;white-space:nowrap">You </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2088.64px;left:353.76px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2088.64px;left:743.82px;white-space:nowrap">withdraw </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2088.64px;left:1504.07px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2088.64px;left:1914.08px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2088.64px;left:2214.32px;white-space:nowrap">Plan </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2088.64px;left:2624.59px;white-space:nowrap">without </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2088.64px;left:3244.92px;white-space:nowrap">penalty </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2088.64px;left:3875.36px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2088.64px;left:4075.49px;white-space:nowrap">any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2088.64px;left:4415.71px;white-space:nowrap">time </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2088.64px;left:4805.77px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2088.64px;left:5045.89px;white-space:nowrap">notifying </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2088.64px;left:5766.33px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2088.64px;left:6066.56px;white-space:nowrap">Plan </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2088.64px;left:6466.9px;white-space:nowrap">Agent, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2088.64px;left:7037.31px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2088.64px;left:7227.42px;white-space:nowrap">writing, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2088.64px;left:7847.58px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2088.64px;left:8047.71px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2088.64px;left:8347.94px;white-space:nowrap">address </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2088.64px;left:9038.32px;white-space:nowrap">above. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2088.64px;left:9628.77px;white-space:nowrap">If </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2088.64px;left:9778.8px;white-space:nowrap">you </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2338.64px;left:0px;letter-spacing:-0.99px;white-space:nowrap">withdraw, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2338.64px;left:800.33px;white-space:nowrap">you </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2338.64px;left:1140.56px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2338.64px;left:1440.53px;white-space:nowrap">receive, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2338.64px;left:2120.8px;white-space:nowrap">without </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2338.64px;left:2741.13px;white-space:nowrap">charge, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2338.64px;left:3391.52px;white-space:nowrap">stock </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2338.64px;left:3861.65px;text-rendering:optimizeLegibility;white-space:nowrap">certificates </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2338.64px;left:4771.93px;white-space:nowrap">issued </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2338.64px;left:5342.26px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2338.64px;left:5532.36px;white-space:nowrap">your </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2338.64px;left:5932.53px;white-space:nowrap">name </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2338.64px;left:6432.8px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2338.64px;left:6692.87px;white-space:nowrap">all </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2338.64px;left:6922.97px;white-space:nowrap">full </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2338.64px;left:7203.08px;white-space:nowrap">shares. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2338.64px;left:7840.11px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2338.64px;left:8200.28px;white-space:nowrap">Plan </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2338.64px;left:8600.63px;white-space:nowrap">Agent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2338.64px;left:9121.03px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2338.64px;left:9421px;white-space:nowrap">convert </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2588.64px;left:0px;white-space:nowrap">any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2588.64px;left:340.22px;white-space:nowrap">fractional </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2588.64px;left:1120.61px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2588.64px;left:1710.88px;white-space:nowrap">you </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2588.64px;left:2051.1px;white-space:nowrap">hold </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2588.64px;left:2441.43px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2588.64px;left:2641.55px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2588.64px;left:2941.79px;white-space:nowrap">time </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2588.64px;left:3331.85px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2588.64px;left:3531.97px;white-space:nowrap">your </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2588.64px;left:3932.14px;white-space:nowrap">withdrawal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2588.64px;left:4832.49px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2588.64px;left:5032.62px;white-space:nowrap">cash </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2588.64px;left:5462.84px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2588.64px;left:5662.97px;white-space:nowrap">current </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2588.64px;left:6273.19px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2588.64px;left:6873.31px;white-space:nowrap">price </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2588.64px;left:7313.47px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2588.64px;left:7663.8px;white-space:nowrap">send </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2588.64px;left:8104.13px;white-space:nowrap">you </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2588.64px;left:8444.36px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2588.64px;left:8594.47px;white-space:nowrap">check </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2588.64px;left:9114.7px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2588.64px;left:9374.77px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2838.64px;left:0px;white-space:nowrap">proceeds.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3268.64px;left:0px;white-space:nowrap">If </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3268.64px;left:150.03px;white-space:nowrap">you </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3268.64px;left:490.25px;white-space:nowrap">hold </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3268.64px;left:880.58px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3268.64px;left:1470.85px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3268.64px;left:1660.96px;white-space:nowrap">your </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3268.64px;left:2061.12px;white-space:nowrap">own </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3268.64px;left:2441.34px;white-space:nowrap">name, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3268.64px;left:2991.62px;white-space:nowrap">please </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3268.64px;left:3572.05px;white-space:nowrap">address </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3268.64px;left:4262.43px;white-space:nowrap">all </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3268.64px;left:4492.53px;white-space:nowrap">notices, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3268.64px;left:5162.87px;white-space:nowrap">correspondence, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3268.64px;left:6553.74px;white-space:nowrap">questions, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3268.64px;left:7424.3px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3268.64px;left:7634.36px;white-space:nowrap">other </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3268.64px;left:8094.64px;white-space:nowrap">communications </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3518.64px;left:0px;white-space:nowrap">regarding </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3518.64px;left:810.53px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3518.64px;left:1110.76px;white-space:nowrap">Plan </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3518.64px;left:1521.04px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3518.64px;left:1721.16px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3518.64px;left:2021.4px;white-space:nowrap">Plan </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3518.64px;left:2421.74px;white-space:nowrap">Agent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3518.64px;left:2942.14px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3518.64px;left:3142.27px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3518.64px;left:3442.5px;white-space:nowrap">address </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3518.64px;left:4132.88px;white-space:nowrap">noted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3518.64px;left:4633.33px;white-space:nowrap">above. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3518.64px;left:5223.78px;white-space:nowrap">If </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3518.64px;left:5373.81px;white-space:nowrap">your </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3518.64px;left:5773.97px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3518.64px;left:6364.25px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3518.64px;left:6674.41px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3518.64px;left:6974.65px;white-space:nowrap">held </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3518.64px;left:7364.97px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3518.64px;left:7555.08px;white-space:nowrap">your </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3518.64px;left:7955.24px;white-space:nowrap">name, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3518.64px;left:8505.53px;white-space:nowrap">you </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3518.64px;left:8845.75px;white-space:nowrap">should </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3518.64px;left:9426.18px;white-space:nowrap">contact </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3768.64px;left:0px;white-space:nowrap">your </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3768.64px;left:400.17px;white-space:nowrap">brokerage </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3768.64px;left:1260.7px;text-rendering:optimizeLegibility;white-space:nowrap">firm, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3768.64px;left:1660.61px;white-space:nowrap">bank, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3768.64px;left:2150.95px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3768.64px;left:2361.01px;white-space:nowrap">other </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3768.64px;left:2821.29px;white-space:nowrap">nominee </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3768.64px;left:3561.77px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3768.64px;left:3821.84px;white-space:nowrap">more </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3768.64px;left:4281.94px;white-space:nowrap">information </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3768.64px;left:5222.37px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3768.64px;left:5572.71px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3768.64px;left:5772.83px;white-space:nowrap">determine </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3768.64px;left:6623.26px;white-space:nowrap">if </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3768.64px;left:6763.27px;white-space:nowrap">our </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3768.64px;left:7073.44px;white-space:nowrap">nominee </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3768.64px;left:7813.92px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3768.64px;left:8113.89px;white-space:nowrap">participate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3768.64px;left:8994.38px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3768.64px;left:9184.48px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3768.64px;left:9484.72px;white-space:nowrap">Plan </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4018.64px;left:0px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4018.64px;left:250.22px;white-space:nowrap">your </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4018.64px;left:650.39px;white-space:nowrap">behalf.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4448.64px;left:0px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4448.64px;left:360.18px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4448.64px;left:820.46px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4448.64px;left:1030.52px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4448.64px;left:1330.75px;white-space:nowrap">Plan </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4448.64px;left:1731.09px;white-space:nowrap">Agent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4448.64px;left:2251.49px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4448.64px;left:2641.55px;white-space:nowrap">amend </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4448.64px;left:3241.93px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4448.64px;left:3451.99px;white-space:nowrap">terminate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4448.64px;left:4252.32px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4448.64px;left:4552.56px;white-space:nowrap">Plan. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4448.64px;left:5009.59px;letter-spacing:-4.13px;white-space:nowrap">You </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4448.64px;left:5363.35px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4448.64px;left:5663.32px;white-space:nowrap">receive </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4448.64px;left:6293.58px;white-space:nowrap">written </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4448.64px;left:6873.75px;white-space:nowrap">notice </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4448.64px;left:7404.08px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4448.64px;left:7604.21px;white-space:nowrap">least </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4448.64px;left:8034.43px;white-space:nowrap">90 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4448.64px;left:8284.66px;white-space:nowrap">days </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4448.64px;left:8714.88px;white-space:nowrap">before </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4448.64px;left:9275.27px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4698.64px;left:0px;letter-spacing:-0.33px;white-space:nowrap">effective </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4698.64px;left:717.1px;white-space:nowrap">date </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4698.64px;left:1117.44px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4698.64px;left:1317.57px;white-space:nowrap">termination </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4698.64px;left:2258px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4698.64px;left:2468.06px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4698.64px;left:2668.18px;white-space:nowrap">any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4698.64px;left:3008.41px;white-space:nowrap">amendment. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4698.64px;left:4058.96px;white-space:nowrap">In </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4698.64px;left:4259.09px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4698.64px;left:4559.33px;white-space:nowrap">case </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4698.64px;left:4989.55px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4698.64px;left:5189.68px;white-space:nowrap">termination, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4698.64px;left:6180.12px;white-space:nowrap">you </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4698.64px;left:6520.34px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4698.64px;left:6820.31px;white-space:nowrap">receive </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4698.64px;left:7450.58px;white-space:nowrap">written </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4698.64px;left:8030.74px;white-space:nowrap">notice </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4698.64px;left:8561.07px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4698.64px;left:8761.2px;white-space:nowrap">least </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4698.64px;left:9191.43px;white-space:nowrap">90 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4698.64px;left:9441.65px;white-space:nowrap">days </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4948.64px;left:0px;white-space:nowrap">before </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4948.64px;left:560.39px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4948.64px;left:860.63px;white-space:nowrap">record </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4948.64px;left:1420.84px;white-space:nowrap">date </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4948.64px;left:1821.18px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4948.64px;left:2021.31px;white-space:nowrap">any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4948.64px;left:2361.53px;white-space:nowrap">dividend </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4948.64px;left:3082.06px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4948.64px;left:3292.12px;white-space:nowrap">capital </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4948.64px;left:3862.44px;white-space:nowrap">gain </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4948.64px;left:4252.76px;white-space:nowrap">distribution </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4948.64px;left:5173.24px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4948.64px;left:5413.36px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4948.64px;left:5713.59px;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">Board </div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:-30.85px;left:751.69px;white-space:nowrap">Approval </div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:-30.85px;left:1850.09px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:-30.85px;left:2139.16px;white-space:nowrap">Investment </div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:289.15px;left:0px;white-space:nowrap">Management </div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:289.15px;left:1575.49px;white-space:nowrap">Agreements</div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:664.48px;left:0px;white-space:nowrap">FRANKLIN </div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:664.48px;left:969.87px;letter-spacing:-0.33px;white-space:nowrap">UNIVERSAL </div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:664.48px;left:2056.73px;white-space:nowrap">TRUST</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:914.48px;left:0px;white-space:nowrap">(Fund)</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1344.48px;left:0px;white-space:nowrap">At </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1344.48px;left:219.79px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1344.48px;left:369.62px;white-space:nowrap">meeting </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1344.48px;left:1059.71px;letter-spacing:0px;white-space:nowrap">held </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1344.48px;left:1449.74px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1344.48px;left:1699.67px;white-space:nowrap">February </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1344.48px;left:2469.66px;letter-spacing:0px;white-space:nowrap">23, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1344.48px;left:2769.6px;white-space:nowrap">2021 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1344.48px;left:3219.75px;white-space:nowrap">(Meeting), </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1344.48px;left:4079.73px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1344.48px;left:4379.68px;white-space:nowrap">Board </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1594.48px;left:0px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1594.48px;left:196.88px;letter-spacing:-0.74px;white-space:nowrap">Trustees </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1594.48px;left:940.43px;white-space:nowrap">(Board) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1594.48px;left:1590.64px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1594.48px;left:1790.77px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1594.48px;left:2091.01px;white-space:nowrap">Fund, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1594.48px;left:2601.3px;white-space:nowrap">including </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1594.48px;left:3361.82px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1594.48px;left:3511.93px;white-space:nowrap">majority </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1594.48px;left:4192.03px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1594.48px;left:4392.16px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1844.48px;left:0px;white-space:nowrap">trustees </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1844.48px;left:690.29px;white-space:nowrap">who </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1844.48px;left:1070.51px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1844.48px;left:1380.67px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1844.48px;left:1680.91px;white-space:nowrap">&#8220;interested </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1844.48px;left:2581.35px;white-space:nowrap">persons&#8221; </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1844.48px;left:3331.67px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1844.48px;left:3571.79px;text-rendering:optimizeLegibility;white-space:nowrap">defined </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1844.48px;left:4212.33px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1844.48px;left:4402.44px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2094.48px;left:0px;white-space:nowrap">Investment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2094.48px;left:930.41px;white-space:nowrap">Company </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2094.48px;left:1740.85px;white-space:nowrap">Act </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2094.48px;left:2050.93px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2094.48px;left:2251.05px;white-space:nowrap">1940 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2094.48px;left:2701.49px;white-space:nowrap">(Independent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2094.48px;left:3809.18px;letter-spacing:-0.61px;white-space:nowrap">Trustees), </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2344.48px;left:0px;white-space:nowrap">reviewed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2344.48px;left:770.36px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2344.48px;left:1120.69px;white-space:nowrap">approved </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2344.48px;left:1921.29px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2344.48px;left:2221.52px;white-space:nowrap">continuance </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2344.48px;left:3242.29px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2344.48px;left:3442.41px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2344.48px;left:3742.65px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2594.48px;left:0px;white-space:nowrap">management </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2594.48px;left:1100.65px;white-space:nowrap">agreement </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2594.48px;left:2011.2px;white-space:nowrap">between </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2594.48px;left:2741.75px;white-space:nowrap">Franklin </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2594.48px;left:3422.02px;white-space:nowrap">Advisers, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2594.48px;left:4212.25px;white-space:nowrap">Inc. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2844.48px;left:0px;white-space:nowrap">(Manager) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2844.48px;left:880.31px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2844.48px;left:1230.64px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2844.48px;left:1530.88px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2844.48px;left:1991.16px;white-space:nowrap">(Management </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2844.48px;left:3141.83px;white-space:nowrap">Agreement) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2844.48px;left:4132.27px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3094.48px;left:0px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3094.48px;left:250.22px;white-space:nowrap">additional </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3094.48px;left:1070.86px;white-space:nowrap">one-year </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3094.48px;left:1831.29px;white-space:nowrap">period. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3094.48px;left:2428.42px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3094.48px;left:2788.59px;white-space:nowrap">Independent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3094.48px;left:3836.34px;letter-spacing:-0.74px;white-space:nowrap">Trustees </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3344.48px;left:0px;white-space:nowrap">received </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3344.48px;left:730.37px;white-space:nowrap">advice </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3344.48px;left:1300.69px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3344.48px;left:1710.7px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3344.48px;left:2061.04px;white-space:nowrap">met </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3344.48px;left:2411.1px;white-space:nowrap">separately </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3344.48px;left:3291.59px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3344.48px;left:3661.7px;white-space:nowrap">Independent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3594.48px;left:0px;letter-spacing:-0.83px;white-space:nowrap">Trustee </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3594.48px;left:653.55px;white-space:nowrap">counsel </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3594.48px;left:1323.98px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3594.48px;left:1514.09px;white-space:nowrap">considering </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3594.48px;left:2484.67px;white-space:nowrap">whether </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3594.48px;left:3175.05px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3594.48px;left:3375.18px;white-space:nowrap">approve </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3594.48px;left:4075.66px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3844.48px;left:0px;white-space:nowrap">continuation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3844.48px;left:1020.76px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3844.48px;left:1220.89px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3844.48px;left:1521.12px;white-space:nowrap">Management </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3844.48px;left:2611.85px;white-space:nowrap">Agreement.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4274.48px;left:0px;white-space:nowrap">In </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4274.48px;left:200.13px;white-space:nowrap">considering </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4274.48px;left:1170.7px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4274.48px;left:1470.94px;white-space:nowrap">continuation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4274.48px;left:2491.7px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4274.48px;left:2691.83px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4274.48px;left:2992.06px;white-space:nowrap">Management </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4524.48px;left:0px;white-space:nowrap">Agreement, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4524.48px;left:980.51px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4524.48px;left:1280.74px;white-space:nowrap">Board </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4524.48px;left:1811.07px;white-space:nowrap">reviewed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4524.48px;left:2581.44px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4524.48px;left:2931.77px;white-space:nowrap">considered </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4524.48px;left:3862.35px;white-space:nowrap">information </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4774.48px;left:0px;white-space:nowrap">provided </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4774.48px;left:740.48px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4774.48px;left:980.6px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4774.48px;left:1280.83px;white-space:nowrap">Manager </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4774.48px;left:2041.26px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4774.48px;left:2241.39px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4774.48px;left:2541.62px;white-space:nowrap">Meeting </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4774.48px;left:3232px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4774.48px;left:3582.33px;white-space:nowrap">throughout </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5024.48px;left:0px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5024.48px;left:300.23px;white-space:nowrap">year </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5024.48px;left:700.4px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5024.48px;left:900.53px;white-space:nowrap">meetings </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5024.48px;left:1680.91px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5024.48px;left:1881.04px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5024.48px;left:2181.27px;white-space:nowrap">Board </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5024.48px;left:2711.6px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5024.48px;left:3061.93px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5024.48px;left:3291.94px;white-space:nowrap">committees. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5024.48px;left:4308.93px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5274.48px;left:0px;white-space:nowrap">Board </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5274.48px;left:530.33px;white-space:nowrap">also </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5274.48px;left:910.55px;white-space:nowrap">reviewed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5274.48px;left:1680.91px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5274.48px;left:2031.24px;white-space:nowrap">considered </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5274.48px;left:2961.83px;white-space:nowrap">information </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5274.48px;left:3902.26px;white-space:nowrap">provided </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5524.48px;left:0px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5524.48px;left:190.11px;white-space:nowrap">response </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5524.48px;left:980.6px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5524.48px;left:1180.72px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5524.48px;left:1330.84px;white-space:nowrap">detailed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5524.48px;left:2011.38px;white-space:nowrap">set </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5524.48px;left:2301.5px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5524.48px;left:2501.63px;white-space:nowrap">requests </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5524.48px;left:3242.02px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5524.48px;left:3502.09px;white-space:nowrap">information </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5774.48px;left:0px;white-space:nowrap">submitted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5774.48px;left:830.39px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5774.48px;left:1030.52px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5774.48px;left:1330.75px;white-space:nowrap">Manager </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5774.48px;left:2091.18px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5774.48px;left:2331.3px;white-space:nowrap">Independent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5774.48px;left:3379.04px;letter-spacing:-0.83px;white-space:nowrap">Trustee </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5774.48px;left:4032.6px;white-space:nowrap">counsel </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6024.48px;left:0px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6024.48px;left:250.22px;white-space:nowrap">behalf </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6024.48px;left:790.66px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6024.48px;left:990.79px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6024.48px;left:1291.03px;white-space:nowrap">Independent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6024.48px;left:2338.77px;letter-spacing:-0.74px;white-space:nowrap">Trustees </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6024.48px;left:3082.32px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6024.48px;left:3272.43px;white-space:nowrap">connection </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6024.48px;left:4193.09px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6274.48px;left:0px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6274.48px;left:300.23px;white-space:nowrap">annual </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6274.48px;left:890.77px;white-space:nowrap">contract </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6274.48px;left:1581.06px;white-space:nowrap">renewal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6274.48px;left:2261.43px;white-space:nowrap">process. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6274.48px;left:2991.71px;white-space:nowrap">In </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6274.48px;left:3191.84px;white-space:nowrap">addition, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6274.48px;left:3922.38px;white-space:nowrap">prior </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6274.48px;left:4332.48px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6524.48px;left:0px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6524.48px;left:300.23px;white-space:nowrap">Meeting, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6524.48px;left:1040.63px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6524.48px;left:1340.86px;white-space:nowrap">Independent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6524.48px;left:2388.6px;letter-spacing:-0.74px;white-space:nowrap">Trustees </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6524.48px;left:3132.16px;white-space:nowrap">held </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6524.48px;left:3522.48px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6524.48px;left:3672.6px;white-space:nowrap">telephonic </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6774.48px;left:0px;white-space:nowrap">contract </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6774.48px;left:690.29px;white-space:nowrap">renewal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6774.48px;left:1370.65px;white-space:nowrap">meeting </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6774.48px;left:2061.04px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6774.48px;left:2261.16px;white-space:nowrap">which </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6774.48px;left:2771.37px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6774.48px;left:3071.6px;white-space:nowrap">Independent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6774.48px;left:4119.35px;letter-spacing:-0.74px;white-space:nowrap">Trustees </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7024.48px;left:0px;white-space:nowrap">conferred </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7024.48px;left:810.44px;white-space:nowrap">amongst </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7024.48px;left:1550.83px;white-space:nowrap">themselves </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7024.48px;left:2511.21px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7024.48px;left:2861.54px;white-space:nowrap">Independent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7024.48px;left:3909.29px;letter-spacing:-0.83px;white-space:nowrap">Trustee </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7274.48px;left:0px;white-space:nowrap">counsel </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7274.48px;left:670.43px;white-space:nowrap">about </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7274.48px;left:1170.88px;white-space:nowrap">contract </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7274.48px;left:1861.17px;white-space:nowrap">renewal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7274.48px;left:2541.53px;white-space:nowrap">matters </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7274.48px;left:3191.66px;white-space:nowrap">and, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7274.48px;left:3592px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7274.48px;left:3782.11px;white-space:nowrap">some </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7274.48px;left:4272.28px;white-space:nowrap">cases, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7524.48px;left:0px;white-space:nowrap">requested </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7524.48px;left:850.61px;white-space:nowrap">additional </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7524.48px;left:1671.24px;white-space:nowrap">information </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7524.48px;left:2611.67px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7524.48px;left:3021.68px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7524.48px;left:3321.91px;white-space:nowrap">Manager </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7524.48px;left:4082.34px;white-space:nowrap">relating </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7774.48px;left:0px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7774.48px;left:200.13px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7774.48px;left:500.36px;white-space:nowrap">contract. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7774.48px;left:1237.41px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7774.48px;left:1597.59px;white-space:nowrap">Board </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7774.48px;left:2127.92px;white-space:nowrap">reviewed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7774.48px;left:2898.28px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7774.48px;left:3248.61px;white-space:nowrap">considered </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7774.48px;left:4179.2px;white-space:nowrap">all </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7774.48px;left:4409.3px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7774.48px;left:4609.42px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8024.48px;left:0px;white-space:nowrap">factors </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8024.48px;left:590.19px;white-space:nowrap">it </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8024.48px;left:730.2px;white-space:nowrap">deemed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8024.48px;left:1430.68px;white-space:nowrap">relevant </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8024.48px;left:2121.06px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8024.48px;left:2311.17px;white-space:nowrap">approving </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8024.48px;left:3151.76px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8024.48px;left:3451.99px;white-space:nowrap">continuance </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8024.48px;left:4472.75px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8274.48px;left:0px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8274.48px;left:300.23px;white-space:nowrap">Management </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8274.48px;left:1390.96px;white-space:nowrap">Agreement, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8274.48px;left:2371.46px;white-space:nowrap">including, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8274.48px;left:3181.99px;white-space:nowrap">but </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8274.48px;left:3482.23px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8274.48px;left:3782.46px;white-space:nowrap">limited </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8274.48px;left:4352.61px;white-space:nowrap">to: </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8274.48px;left:4602.74px;white-space:nowrap">(i) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8524.48px;left:0px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8524.48px;left:300.23px;white-space:nowrap">nature, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8524.48px;left:910.63px;white-space:nowrap">extent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8524.48px;left:1450.99px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8524.48px;left:1801.32px;white-space:nowrap">quality </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8524.48px;left:2371.64px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8524.48px;left:2571.77px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8524.48px;left:2872px;white-space:nowrap">services </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8524.48px;left:3582.16px;white-space:nowrap">provided </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8524.48px;left:4322.64px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8524.48px;left:4562.75px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8774.48px;left:0px;white-space:nowrap">Manager; </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8774.48px;left:810.44px;white-space:nowrap">(ii) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8774.48px;left:1060.31px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8774.48px;left:1360.55px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8774.48px;left:2280.94px;white-space:nowrap">performance </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8774.48px;left:3341.43px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8774.48px;left:3541.55px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8774.48px;left:3841.79px;white-space:nowrap">Fund; </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8774.48px;left:4352.08px;white-space:nowrap">(iii) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9024.48px;left:0px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9024.48px;left:300.23px;white-space:nowrap">costs </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9024.48px;left:770.36px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9024.48px;left:970.49px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9024.48px;left:1270.72px;white-space:nowrap">services </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9024.48px;left:1980.88px;white-space:nowrap">provided </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9024.48px;left:2721.36px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9024.48px;left:3071.69px;text-rendering:optimizeLegibility;white-space:nowrap">profits </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9024.48px;left:3611.87px;white-space:nowrap">realized </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9024.48px;left:4292.23px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9024.48px;left:4532.34px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9274.48px;left:0px;white-space:nowrap">Manager </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9274.48px;left:760.15px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9274.48px;left:1110.2px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9274.48px;left:1339.92px;text-rendering:optimizeLegibility;white-space:nowrap">affiliates </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9274.48px;left:2049.97px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9274.48px;left:2459.7px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9274.48px;left:2759.65px;white-space:nowrap">relationship </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9274.48px;left:3729.94px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9274.48px;left:4099.77px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9274.48px;left:4399.72px;white-space:nowrap">Fund; </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9524.48px;left:0px;white-space:nowrap">(iv) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9524.48px;left:299.88px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9524.48px;left:600.12px;white-space:nowrap">extent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9524.48px;left:1140.47px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9524.48px;left:1340.6px;white-space:nowrap">which </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9524.48px;left:1850.8px;white-space:nowrap">economies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9524.48px;left:2771.28px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9524.48px;left:2971.41px;white-space:nowrap">scale </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9524.48px;left:3441.62px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9524.48px;left:3751.79px;white-space:nowrap">realized </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9524.48px;left:4432.15px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9774.48px;left:0px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9774.48px;left:300.23px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9774.48px;left:760.52px;white-space:nowrap">grows; </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9774.48px;left:1340.68px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9774.48px;left:1691.02px;white-space:nowrap">(v) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9774.48px;left:1950.91px;white-space:nowrap">whether </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9774.48px;left:2641.29px;white-space:nowrap">fee </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9774.48px;left:2941.52px;white-space:nowrap">levels </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9774.48px;left:3451.73px;text-rendering:optimizeLegibility;white-space:nowrap">reflect </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9774.48px;left:3991.9px;white-space:nowrap">these </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10024.48px;left:0px;white-space:nowrap">economies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10024.48px;left:920.48px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10024.48px;left:1120.61px;white-space:nowrap">scale </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10024.48px;left:1590.82px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10024.48px;left:1850.89px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10024.48px;left:2151.12px;text-rendering:optimizeLegibility;white-space:nowrap">benefit </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10024.48px;left:2741.57px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10024.48px;left:2941.7px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10024.48px;left:3401.98px;white-space:nowrap">investors. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10454.48px;left:0px;white-space:nowrap">In </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10454.48px;left:200.13px;white-space:nowrap">approving </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10454.48px;left:1040.71px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10454.48px;left:1340.95px;white-space:nowrap">continuance </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10454.48px;left:2361.71px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10454.48px;left:2561.84px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10454.48px;left:2862.07px;white-space:nowrap">Management </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10704.48px;left:0px;white-space:nowrap">Agreement, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10704.48px;left:980.51px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10704.48px;left:1280.74px;white-space:nowrap">Board, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10704.48px;left:1861.08px;white-space:nowrap">including </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10704.48px;left:2621.6px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10704.48px;left:2771.72px;white-space:nowrap">majority </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10704.48px;left:3451.82px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10704.48px;left:3651.94px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10954.48px;left:0px;white-space:nowrap">Independent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10954.48px;left:1047.74px;letter-spacing:-0.67px;white-space:nowrap">Trustees, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10954.48px;left:1841.31px;white-space:nowrap">determined </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10954.48px;left:2791.85px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10954.48px;left:3142.09px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10954.48px;left:3442.32px;white-space:nowrap">terms </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10954.48px;left:3942.33px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10954.48px;left:4142.46px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11204.48px;left:0px;white-space:nowrap">Management </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11204.48px;left:1090.72px;white-space:nowrap">Agreement </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11204.48px;left:2021.22px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11204.48px;left:2331.39px;white-space:nowrap">fair </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11204.48px;left:2631.45px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11204.48px;left:2981.78px;white-space:nowrap">reasonable </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11204.48px;left:3922.47px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11204.48px;left:4272.8px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11454.48px;left:0px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11454.48px;left:300.23px;white-space:nowrap">continuance </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11454.48px;left:1321px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11454.48px;left:1521.12px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11454.48px;left:1951.35px;white-space:nowrap">Management </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11454.48px;left:3042.07px;white-space:nowrap">Agreement </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11454.48px;left:3972.57px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11454.48px;left:4152.57px;white-space:nowrap">in </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:5520.23px;white-space:nowrap">best </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:5910.47px;white-space:nowrap">interests </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:6640.75px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:6840.88px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:7141.11px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:7601.4px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:7951.73px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:8181.74px;white-space:nowrap">shareholders. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:9322.38px;white-space:nowrap">While </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:5220px;white-space:nowrap">attention </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:5960.57px;white-space:nowrap">was </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:6330.67px;white-space:nowrap">given </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:6811px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:7011.12px;white-space:nowrap">all </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:7241.22px;white-space:nowrap">information </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:8181.65px;white-space:nowrap">furnished, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:9022.15px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:9322.38px;white-space:nowrap">following </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:5220px;white-space:nowrap">discusses </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:6060.32px;white-space:nowrap">some </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:6550.49px;white-space:nowrap">primary </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:7200.53px;white-space:nowrap">factors </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:7790.71px;white-space:nowrap">relevant </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:8481.09px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:8681.22px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:8981.46px;letter-spacing:-0.41px;white-space:nowrap">Board&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:5220px;white-space:nowrap">determination.</div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:1158.64px;left:5220px;white-space:nowrap">Nature, </div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:1158.64px;left:5890.17px;white-space:nowrap">Extent </div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:1158.64px;left:6490.28px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:1158.64px;left:6860.3px;white-space:nowrap">Quality </div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:1158.64px;left:7520.45px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:1158.64px;left:7740.35px;white-space:nowrap">Services</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">Board </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:6110.51px;white-space:nowrap">reviewed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:6880.87px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:7231.2px;white-space:nowrap">considered </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:8161.79px;white-space:nowrap">information </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:9102.22px;white-space:nowrap">regarding </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:5220px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:5520.23px;white-space:nowrap">nature, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:6130.63px;white-space:nowrap">extent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:6670.99px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:7021.32px;white-space:nowrap">quality </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:7591.64px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:7791.77px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:8712.16px;white-space:nowrap">management </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:5220px;white-space:nowrap">services </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:5930.16px;white-space:nowrap">provided </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:6670.63px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:6910.75px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:7210.99px;white-space:nowrap">Manager </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:7971.42px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:8321.75px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:8551.76px;text-rendering:optimizeLegibility;white-space:nowrap">affiliates </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:9262.09px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:9462.22px;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">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:5680.28px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:6030.62px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:6260.63px;white-space:nowrap">shareholders. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:7398.02px;white-space:nowrap">This </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:7788.08px;white-space:nowrap">information </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:8728.51px;white-space:nowrap">included, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:9499.04px;white-space:nowrap">among </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:5220px;white-space:nowrap">other </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:5680.28px;white-space:nowrap">things, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:6260.63px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:6560.86px;text-rendering:optimizeLegibility;white-space:nowrap">qualifications, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:7701.5px;white-space:nowrap">background </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:8692.21px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:9042.54px;white-space:nowrap">experience </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:5220px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:5420.13px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:5720.36px;white-space:nowrap">senior </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:6260.63px;white-space:nowrap">management </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:7361.28px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:7711.61px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:8632px;white-space:nowrap">personnel </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:9472.59px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:9672.71px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:5220px;letter-spacing:-1.1px;white-space:nowrap">Manager, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:6020.51px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:6260.63px;white-space:nowrap">well </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:6620.71px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:6860.83px;white-space:nowrap">information </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:7801.26px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:8051.48px;white-space:nowrap">succession </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:8991.91px;white-space:nowrap">planning </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:5220px;white-space:nowrap">where </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:5760.26px;white-space:nowrap">appropriate; </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:6770.92px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:7071.15px;white-space:nowrap">structure </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:7821.39px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:8021.51px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:8941.9px;white-space:nowrap">personnel </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:5220px;white-space:nowrap">compensation; </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:6440.71px;white-space:nowrap">oversight </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:7221.09px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:7421.22px;white-space:nowrap">third-party </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:8281.49px;white-space:nowrap">service </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:8901.65px;white-space:nowrap">providers; </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:5220px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:6140.39px;white-space:nowrap">performance </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:7200.88px;white-space:nowrap">reports </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:7811.1px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:8161.44px;white-space:nowrap">related </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:8761.82px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:5220px;white-space:nowrap">information </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:6160.43px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:6420.5px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:6720.73px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:7181.02px;white-space:nowrap">(including </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:8001.47px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:8231.48px;white-space:nowrap">share </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:8731.76px;white-space:nowrap">price </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:9171.91px;white-space:nowrap">discount </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:5220px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:5420.13px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:5720.36px;white-space:nowrap">asset </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:6200.6px;white-space:nowrap">value); </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:6790.87px;white-space:nowrap">reports </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:7401.09px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:7651.32px;white-space:nowrap">expenses </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:8471.87px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:8822.2px;white-space:nowrap">shareholder </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:5220px;white-space:nowrap">services; </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:5980.17px;white-space:nowrap">legal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:6410.48px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:6760.81px;white-space:nowrap">compliance </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:7721.28px;white-space:nowrap">matters; </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:8421.42px;white-space:nowrap">risk </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:8751.36px;white-space:nowrap">controls; </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:5220px;white-space:nowrap">pricing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:5800.25px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:6150.59px;white-space:nowrap">other </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:6610.87px;white-space:nowrap">services </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:7321.03px;white-space:nowrap">provided </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:8061.5px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:8301.62px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:8601.86px;white-space:nowrap">Manager </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:9362.29px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:9712.62px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:5220px;text-rendering:optimizeLegibility;white-space:nowrap">affiliates; </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:5980.34px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:6330.67px;white-space:nowrap">management </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:7431.33px;white-space:nowrap">fees </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:7821.56px;white-space:nowrap">charged </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:8522.05px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:8762.17px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:9062.4px;white-space:nowrap">Manager </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:5220px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:5570.33px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:5800.34px;text-rendering:optimizeLegibility;white-space:nowrap">affiliates </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:6510.67px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:6710.8px;white-space:nowrap">US </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:7010.86px;white-space:nowrap">funds </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:7501.2px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:7851.53px;white-space:nowrap">other </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:8311.82px;white-space:nowrap">accounts, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:9132.28px;white-space:nowrap">including </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5408.64px;left:5220px;letter-spacing:-0.25px;white-space:nowrap">management&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5408.64px;left:6447.39px;white-space:nowrap">explanation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5408.64px;left:7418.14px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5408.64px;left:7618.27px;letter-spacing:-0.27px;white-space:nowrap">differences </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5408.64px;left:8545.52px;white-space:nowrap">among </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5408.64px;left:9145.9px;white-space:nowrap">accounts </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:5220px;white-space:nowrap">where </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:5760.26px;white-space:nowrap">relevant. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:6497.4px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:6857.58px;white-space:nowrap">Board </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:7387.91px;white-space:nowrap">noted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:7888.36px;letter-spacing:-0.25px;white-space:nowrap">management&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:9115.75px;white-space:nowrap">continuing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:5220px;letter-spacing:-0.41px;white-space:nowrap">efforts </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:5766.94px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:6117.28px;white-space:nowrap">expenditures </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:7197.98px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:7388.09px;white-space:nowrap">establishing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:8388.72px;letter-spacing:-0.33px;white-space:nowrap">effective </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:9105.82px;white-space:nowrap">business </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:5220px;white-space:nowrap">continuity </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:6030.44px;white-space:nowrap">plans </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:6510.76px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:6861.09px;white-space:nowrap">developing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:7781.84px;white-space:nowrap">strategies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:8612.23px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:8812.35px;white-space:nowrap">address </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:9502.73px;white-space:nowrap">areas </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6408.64px;left:5220px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6408.64px;left:5420.13px;white-space:nowrap">heightened </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6408.64px;left:6361px;white-space:nowrap">concern </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6408.64px;left:7051.38px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6408.64px;left:7241.48px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6408.64px;left:7541.72px;white-space:nowrap">mutual </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6408.64px;left:8131.99px;white-space:nowrap">fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6408.64px;left:8532.33px;letter-spacing:-1.34px;white-space:nowrap">industry, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6408.64px;left:9249.26px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6408.64px;left:9679.48px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6658.64px;left:5220px;white-space:nowrap">cybersecurity </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6658.64px;left:6330.32px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6658.64px;left:6520.43px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6658.64px;left:6820.66px;white-space:nowrap">current </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6658.64px;left:7430.89px;white-space:nowrap">work-from-home </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6658.64px;left:8791.08px;white-space:nowrap">environment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6908.64px;left:5220px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6908.64px;left:5570.33px;white-space:nowrap">liquidity </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6908.64px;left:6220.63px;white-space:nowrap">risk </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6908.64px;left:6550.58px;white-space:nowrap">management.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:5220px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:5580.18px;white-space:nowrap">Board </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:6110.51px;white-space:nowrap">also </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:6490.72px;white-space:nowrap">reviewed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:7261.08px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:7611.42px;white-space:nowrap">considered </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:8542px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:8842.24px;text-rendering:optimizeLegibility;white-space:nowrap">benefits </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:5220px;white-space:nowrap">provided </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:5960.48px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:6160.61px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:6620.89px;white-space:nowrap">shareholders </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:7711.52px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:7911.65px;white-space:nowrap">investing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:8672.08px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:8862.19px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:9012.3px;white-space:nowrap">fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:9412.65px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:5220px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:5400px;white-space:nowrap">part </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:5760.18px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:5960.3px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:6260.54px;white-space:nowrap">Franklin </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:6947.49px;letter-spacing:-2px;white-space:nowrap">Templeton </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:7827.98px;white-space:nowrap">(FT) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:8217.77px;white-space:nowrap">family </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:8737.82px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:8937.95px;white-space:nowrap">funds. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:9475.05px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:5220px;white-space:nowrap">Board </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:5750.33px;white-space:nowrap">noted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:6250.78px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:6551.02px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:7261.44px;white-space:nowrap">position </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:7931.87px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:8131.99px;white-space:nowrap">Franklin </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:8822.2px;white-space:nowrap">Resources, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:5220px;white-space:nowrap">Inc. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:5560.14px;white-space:nowrap">(FRI), </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:6069.99px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:6370.22px;letter-spacing:0.34px;white-space:nowrap">Manager&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:7264.07px;white-space:nowrap">parent, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:7874.47px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:8224.8px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:8454.81px;white-space:nowrap">commitment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:9484.98px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:9685.11px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:5220px;white-space:nowrap">mutual </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:5810.27px;white-space:nowrap">fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:6210.62px;white-space:nowrap">business </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:6971.04px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:7211.16px;white-space:nowrap">evidenced </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:8081.81px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:8321.92px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:8551.93px;white-space:nowrap">reassessment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:9722.37px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:5220px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:5520.23px;white-space:nowrap">fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:5920.58px;letter-spacing:-0.33px;white-space:nowrap">offerings </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:6657.71px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:6847.82px;white-space:nowrap">response </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:7638.31px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:7838.44px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:8138.67px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:8738.79px;white-space:nowrap">environment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:5220px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:5570.33px;white-space:nowrap">project </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:6160.61px;white-space:nowrap">initiatives </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:6950.92px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:7301.25px;white-space:nowrap">capital </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:7871.57px;white-space:nowrap">investments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:8881.96px;white-space:nowrap">relating </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:9522.33px;white-space:nowrap">to </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">services </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:6230.39px;white-space:nowrap">provided </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:6970.87px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:7171px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:7471.23px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:7931.51px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:8171.63px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:8471.87px;letter-spacing:-1.08px;white-space:nowrap">FT </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:8738.53px;white-space:nowrap">organization. </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">Board </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:6110.51px;text-rendering:optimizeLegibility;white-space:nowrap">specifically </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:7030.81px;white-space:nowrap">noted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:7531.26px;letter-spacing:-0.65px;white-space:nowrap">FT&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:7927.91px;white-space:nowrap">commitment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:8958.08px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:9158.2px;white-space:nowrap">enhancing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:5220px;white-space:nowrap">services </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:5930.16px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:6280.49px;white-space:nowrap">controlling </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:7150.96px;white-space:nowrap">costs, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:7671.09px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:7911.21px;text-rendering:optimizeLegibility;white-space:nowrap">reflected </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:8651.6px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:8841.71px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:9071.72px;white-space:nowrap">outsourcing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:5220px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:5420.13px;white-space:nowrap">certain </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:6010.4px;white-space:nowrap">administrative </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:7170.82px;white-space:nowrap">functions, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:7991.28px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:8341.61px;white-space:nowrap">growth </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:8931.88px;white-space:nowrap">opportunities, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:5220px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:5460.12px;white-space:nowrap">evidenced </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:6330.76px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:6570.88px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:6800.89px;white-space:nowrap">recent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:7351.17px;white-space:nowrap">acquisition </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:8251.7px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:8451.83px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:8752.06px;white-space:nowrap">Legg </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:9202.5px;white-space:nowrap">Mason </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:5220px;white-space:nowrap">companies.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11018.64px;left:5220px;white-space:nowrap">Following </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11018.64px;left:6030.35px;white-space:nowrap">consideration </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11018.64px;left:7151.04px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11018.64px;left:7351.17px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11018.64px;left:7781.4px;white-space:nowrap">information, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11018.64px;left:8771.84px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11018.64px;left:9072.07px;white-space:nowrap">Board </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11268.64px;left:5220px;white-space:nowrap">was </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11268.64px;left:5590.11px;text-rendering:optimizeLegibility;white-space:nowrap">satisfied </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11268.64px;left:6300.44px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11268.64px;left:6670.55px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11268.64px;left:6970.78px;white-space:nowrap">nature, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11268.64px;left:7581.18px;white-space:nowrap">extent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11268.64px;left:8121.53px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11268.64px;left:8471.87px;white-space:nowrap">quality </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11268.64px;left:9042.19px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11268.64px;left:9242.31px;white-space:nowrap">services </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11518.64px;left:5220px;white-space:nowrap">provided </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11518.64px;left:5960.48px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11518.64px;left:6200.6px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11518.64px;left:6500.83px;white-space:nowrap">Manager </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11518.64px;left:7261.26px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11518.64px;left:7611.59px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11518.64px;left:7841.6px;text-rendering:optimizeLegibility;white-space:nowrap">affiliates </div><div style="font-family:Arial, 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			<div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:-21.36px;left:0px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:-21.36px;left:489.81px;white-space:nowrap">Performance</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:360.18px;white-space:nowrap">Board </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:890.51px;white-space:nowrap">reviewed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:1660.87px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:2011.2px;white-space:nowrap">considered </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:2941.79px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:3242.02px;white-space:nowrap">performance </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:4302.51px;white-space:nowrap">results </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:0px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:200.13px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:500.36px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:960.64px;white-space:nowrap">over </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:1360.81px;white-space:nowrap">various </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:1991.07px;white-space:nowrap">time </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:2381.13px;white-space:nowrap">periods </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:3021.5px;white-space:nowrap">ended </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:3572.05px;white-space:nowrap">November </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:0px;white-space:nowrap">30, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:300.23px;white-space:nowrap">2020. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:797.43px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:1157.61px;white-space:nowrap">Board </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:1687.94px;white-space:nowrap">considered </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:2618.53px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:2918.76px;white-space:nowrap">performance </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:3979.25px;white-space:nowrap">returns </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:0px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:260.07px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:560.3px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:1020.59px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:1210.69px;white-space:nowrap">comparison </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:2191.11px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:2391.24px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:2691.47px;white-space:nowrap">performance </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:3751.96px;white-space:nowrap">returns </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:4362.19px;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">mutual </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:590.27px;white-space:nowrap">funds </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:1080.62px;white-space:nowrap">deemed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:1781.1px;white-space:nowrap">comparable </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:2771.63px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:2971.76px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:3271.99px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:3732.28px;white-space:nowrap">included </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:4452.8px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:0px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:150.12px;white-space:nowrap">universe </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:880.49px;white-space:nowrap">(Performance </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:2020.87px;white-space:nowrap">Universe) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:2841.06px;white-space:nowrap">selected </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:3561.5px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:3801.62px;white-space:nowrap">Broadridge </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:0px;white-space:nowrap">Financial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:770.36px;white-space:nowrap">Solutions, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:1610.86px;white-space:nowrap">Inc. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:1951px;white-space:nowrap">(Broadridge), </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:3051.47px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:3301.7px;white-space:nowrap">independent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:0px;white-space:nowrap">provider </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:700.31px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:900.44px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:1820.83px;white-space:nowrap">company </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:2601.21px;white-space:nowrap">data. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:3048.31px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:3408.49px;white-space:nowrap">Board </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:3938.82px;white-space:nowrap">received </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:4669.19px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:0px;white-space:nowrap">description </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:920.48px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:1120.61px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:1420.84px;white-space:nowrap">methodology </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:2501.54px;white-space:nowrap">used </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:2941.88px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:3181.99px;white-space:nowrap">Broadridge </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:4112.58px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:4312.71px;white-space:nowrap">select </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2478.64px;left:0px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2478.64px;left:300.23px;white-space:nowrap">mutual </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2478.64px;left:890.51px;white-space:nowrap">funds </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2478.64px;left:1380.85px;white-space:nowrap">included </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2478.64px;left:2101.38px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2478.64px;left:2291.48px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2478.64px;left:2441.6px;white-space:nowrap">Performance </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2478.64px;left:3522.04px;white-space:nowrap">Universe. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2478.64px;left:4329.05px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2728.64px;left:0px;white-space:nowrap">Board </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2728.64px;left:530.33px;white-space:nowrap">also </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2728.64px;left:910.55px;white-space:nowrap">reviewed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2728.64px;left:1680.91px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2728.64px;left:2031.24px;white-space:nowrap">considered </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2728.64px;left:2961.83px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2728.64px;left:3422.11px;white-space:nowrap">performance </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2978.64px;left:0px;white-space:nowrap">reports </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2978.64px;left:610.22px;white-space:nowrap">provided </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2978.64px;left:1350.7px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2978.64px;left:1701.04px;white-space:nowrap">discussions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2978.64px;left:2681.46px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2978.64px;left:3031.7px;white-space:nowrap">occurred </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2978.64px;left:3782.02px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3228.64px;left:0px;white-space:nowrap">portfolio </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3228.64px;left:690.38px;white-space:nowrap">managers </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3228.64px;left:1540.81px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3228.64px;left:1740.94px;white-space:nowrap">Board </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3228.64px;left:2271.27px;white-space:nowrap">meetings </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3228.64px;left:3051.65px;white-space:nowrap">throughout </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3228.64px;left:3962.37px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3228.64px;left:4262.61px;letter-spacing:-1.66px;white-space:nowrap">year. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3478.64px;left:0px;letter-spacing:-4.97px;white-space:nowrap">A </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3478.64px;left:160.14px;white-space:nowrap">summary </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3478.64px;left:950.19px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3478.64px;left:1150.31px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3478.64px;left:1450.55px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3478.64px;left:2037.57px;white-space:nowrap">performance </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3478.64px;left:3098.06px;white-space:nowrap">results </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3478.64px;left:3678.22px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3478.64px;left:3858.22px;letter-spacing:-1.42px;white-space:nowrap">below. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3728.64px;left:0px;white-space:nowrap">Such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3728.64px;left:460.28px;white-space:nowrap">results </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3728.64px;left:1040.45px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3728.64px;left:1350.62px;white-space:nowrap">based </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3728.64px;left:1891.05px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3728.64px;left:2141.28px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3728.64px;left:2441.51px;white-space:nowrap">asset </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3728.64px;left:2921.75px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3728.64px;left:3402.07px;white-space:nowrap">without </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3728.64px;left:4022.4px;white-space:nowrap">regard </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3728.64px;left:4592.72px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3978.64px;left:0px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3978.64px;left:600.12px;white-space:nowrap">discounts </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3978.64px;left:1410.56px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3978.64px;left:1620.62px;white-space:nowrap">premiums. </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">Performance </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:1440.62px;white-space:nowrap">Universe </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:2200.87px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:2460.94px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:2761.17px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:3221.46px;white-space:nowrap">included </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:3941.98px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:4242.22px;white-space:nowrap">Fund </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">all </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:580.43px;white-space:nowrap">leveraged </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:1421.02px;white-space:nowrap">closed-end </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:2351.6px;white-space:nowrap">high </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:2741.92px;white-space:nowrap">yield </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:3162.13px;white-space:nowrap">funds. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:3699.23px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:4059.4px;white-space:nowrap">Board </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:0px;white-space:nowrap">noted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:500.45px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:850.69px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:1150.93px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:1737.95px;white-space:nowrap">annualized </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:2658.69px;white-space:nowrap">income </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:3288.96px;white-space:nowrap">return </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:3809.18px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:4069.25px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:4369.48px;white-space:nowrap">one-, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:0px;white-space:nowrap">three-, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:570.23px;text-rendering:optimizeLegibility;white-space:nowrap">five- </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:960.29px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:1310.63px;white-space:nowrap">10-year </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:1970.95px;white-space:nowrap">periods </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:2611.32px;white-space:nowrap">was </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:2981.43px;white-space:nowrap">below </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:3501.74px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:3801.97px;white-space:nowrap">median </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:4442.34px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5408.64px;left:0px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5408.64px;left:190.11px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5408.64px;left:490.34px;text-rendering:optimizeLegibility;white-space:nowrap">fifth </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5408.64px;left:830.48px;white-space:nowrap">quintile </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5408.64px;left:1450.9px;white-space:nowrap">(worst) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5408.64px;left:2050.84px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5408.64px;left:2250.97px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5408.64px;left:2480.98px;white-space:nowrap">Performance </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5408.64px;left:3561.42px;white-space:nowrap">Universe. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5408.64px;left:4368.43px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:0px;white-space:nowrap">Board </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:530.33px;white-space:nowrap">also </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:910.55px;white-space:nowrap">noted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:1411px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:1761.24px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:2061.47px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:2648.5px;white-space:nowrap">annualized </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:3569.24px;white-space:nowrap">total </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:3959.47px;white-space:nowrap">return </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:4479.7px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:0px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:300.23px;white-space:nowrap">three-, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:870.47px;text-rendering:optimizeLegibility;white-space:nowrap">five- </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:1260.53px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:1610.86px;white-space:nowrap">10-year </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:2271.18px;white-space:nowrap">periods </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:2911.55px;white-space:nowrap">was </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:3281.66px;white-space:nowrap">above </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:3822.1px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:4122.33px;white-space:nowrap">median </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:0px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:200.13px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:430.14px;white-space:nowrap">Performance </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:1510.58px;white-space:nowrap">Universe, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:2320.84px;white-space:nowrap">but </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:2621.07px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:2881.14px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:3181.38px;white-space:nowrap">one-year </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:3941.81px;white-space:nowrap">period </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6408.64px;left:0px;white-space:nowrap">was </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6408.64px;left:370.11px;white-space:nowrap">0.17% </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6408.64px;left:930.5px;white-space:nowrap">below </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6408.64px;left:1450.81px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6408.64px;left:1751.04px;white-space:nowrap">median </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6408.64px;left:2391.42px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6408.64px;left:2591.54px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6408.64px;left:2821.55px;white-space:nowrap">Performance </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6408.64px;left:3901.99px;white-space:nowrap">Universe. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6658.64px;left:0px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6658.64px;left:360.18px;white-space:nowrap">Board </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6658.64px;left:890.51px;white-space:nowrap">further </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6658.64px;left:1460.74px;white-space:nowrap">noted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6658.64px;left:1961.19px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6658.64px;left:2311.44px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6658.64px;left:2611.67px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6658.64px;left:3198.69px;white-space:nowrap">annualized </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6658.64px;left:4119.43px;white-space:nowrap">total </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6908.64px;left:0px;white-space:nowrap">return </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6908.64px;left:520.22px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6908.64px;left:780.29px;white-space:nowrap">each </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6908.64px;left:1220.63px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6908.64px;left:1420.75px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6908.64px;left:1720.99px;white-space:nowrap">one-, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6908.64px;left:2181.27px;white-space:nowrap">three-, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6908.64px;left:2751.5px;text-rendering:optimizeLegibility;white-space:nowrap">five- </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6908.64px;left:3141.56px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6908.64px;left:3491.89px;white-space:nowrap">10-year </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6908.64px;left:4152.22px;white-space:nowrap">periods, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7158.64px;left:0px;white-space:nowrap">while </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7158.64px;left:460.2px;white-space:nowrap">below </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7158.64px;left:980.51px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7158.64px;left:1280.74px;white-space:nowrap">median, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7158.64px;left:1971.12px;white-space:nowrap">was </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7158.64px;left:2341.23px;white-space:nowrap">4.01%, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7158.64px;left:2951.63px;white-space:nowrap">5.27%, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7158.64px;left:3562.03px;white-space:nowrap">9.65% </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7158.64px;left:4122.42px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7408.64px;left:0px;white-space:nowrap">8.16%, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7408.64px;left:610.4px;letter-spacing:-0.95px;white-space:nowrap">respectively. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7408.64px;left:1694.18px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7408.64px;left:2054.36px;white-space:nowrap">Board </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7408.64px;left:2584.69px;white-space:nowrap">concluded </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7408.64px;left:3455.33px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7408.64px;left:3805.58px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7408.64px;left:4105.81px;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:0px;white-space:nowrap">performance </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7658.64px;left:1060.49px;white-space:nowrap">was </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7658.64px;left:1430.6px;white-space:nowrap">acceptable.</div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:8088.64px;left:0px;white-space:nowrap">Comparative </div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:8088.64px;left:1140.38px;white-space:nowrap">Fees </div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:8088.64px;left:1600.66px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:8088.64px;left:1970.68px;white-space:nowrap">Expenses</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:0px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:360.18px;white-space:nowrap">Board </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:890.51px;white-space:nowrap">reviewed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:1660.87px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:2011.2px;white-space:nowrap">considered </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:2941.79px;white-space:nowrap">information </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:3882.22px;white-space:nowrap">regarding </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:0px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;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:8588.64px;left:887.26px;white-space:nowrap">actual </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:1417.59px;white-space:nowrap">total </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:1807.82px;white-space:nowrap">expense </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:2538.37px;white-space:nowrap">ratio </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:2938.54px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:3288.87px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:3518.88px;white-space:nowrap">various </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:0px;white-space:nowrap">components, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:1080.62px;white-space:nowrap">including, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:1891.14px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:2131.26px;white-space:nowrap">applicable, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:3041.89px;white-space:nowrap">management </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:4142.55px;white-space:nowrap">fees; </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:0px;white-space:nowrap">underlying </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:880.58px;white-space:nowrap">fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:1280.92px;white-space:nowrap">expenses; </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:2151.47px;white-space:nowrap">investment-related </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:3682.18px;white-space:nowrap">expenses; </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:0px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:350.33px;white-space:nowrap">other </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:810.62px;white-space:nowrap">non-management </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:2271.53px;white-space:nowrap">fees. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:2708.53px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:3068.7px;white-space:nowrap">Board </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:3599.03px;white-space:nowrap">considered </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:4529.62px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:0px;white-space:nowrap">actual </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:530.33px;white-space:nowrap">total </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:920.57px;white-space:nowrap">expense </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:1651.11px;white-space:nowrap">ratio </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:2051.28px;white-space:nowrap">and, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:2451.62px;letter-spacing:-1.11px;white-space:nowrap">separately, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:3368.76px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:3668.99px;white-space:nowrap">contractual </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:0px;white-space:nowrap">management </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:1100.65px;white-space:nowrap">fee </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:1400.89px;white-space:nowrap">rate, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:1811.07px;white-space:nowrap">without </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:2431.41px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:2731.64px;letter-spacing:-0.46px;white-space:nowrap">effect </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:3218.64px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:3418.77px;white-space:nowrap">fee </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:3719px;white-space:nowrap">waivers, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:0px;white-space:nowrap">if </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:140.01px;white-space:nowrap">any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:480.23px;white-space:nowrap">(Management </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:1640.83px;white-space:nowrap">Rate) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:2131px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:2331.12px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:2631.36px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:3091.64px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:3281.75px;white-space:nowrap">comparison </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:4262.17px;white-space:nowrap">to </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">median </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:940.61px;white-space:nowrap">expense </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:1671.15px;white-space:nowrap">ratio </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:2071.32px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:2421.65px;white-space:nowrap">median </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:3062.02px;white-space:nowrap">Management </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:4162.68px;white-space:nowrap">Rate, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:0px;letter-spacing:-0.95px;white-space:nowrap">respectively, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:1037.02px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:1237.15px;white-space:nowrap">other </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:1697.43px;white-space:nowrap">mutual </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:2287.71px;white-space:nowrap">funds </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:2778.05px;white-space:nowrap">deemed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:3478.54px;white-space:nowrap">comparable </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:4469.06px;white-space:nowrap">to </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">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10838.64px;left:720.44px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10838.64px;left:870.56px;white-space:nowrap">similar </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10838.64px;left:1440.53px;white-space:nowrap">expense </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10838.64px;left:2171.07px;white-space:nowrap">structure </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10838.64px;left:2921.31px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10838.64px;left:3121.44px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10838.64px;left:3421.67px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10838.64px;left:3881.95px;white-space:nowrap">selected </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11088.64px;left:0px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11088.64px;left:240.12px;white-space:nowrap">Broadridge </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11088.64px;left:1170.7px;white-space:nowrap">(Expense </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11088.64px;left:1981.14px;white-space:nowrap">Group). </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11088.64px;left:2641.38px;white-space:nowrap">Broadridge </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11088.64px;left:3571.96px;white-space:nowrap">fee </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11088.64px;left:3872.2px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11338.64px;left:0px;white-space:nowrap">expense </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11338.64px;left:730.55px;white-space:nowrap">data </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11338.64px;left:1130.89px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11338.64px;left:1310.89px;white-space:nowrap">based </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11338.64px;left:1851.33px;white-space:nowrap">upon </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11338.64px;left:2301.77px;white-space:nowrap">information </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11338.64px;left:3242.2px;white-space:nowrap">taken </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11338.64px;left:3732.54px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11338.64px;left:4142.55px;white-space:nowrap">each </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11588.64px;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:11588.64px;left:527.08px;white-space:nowrap">most </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11588.64px;left:967.15px;white-space:nowrap">recent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11588.64px;left:1517.43px;white-space:nowrap">annual </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11588.64px;left:2107.97px;white-space:nowrap">report, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11588.64px;left:2678.2px;white-space:nowrap">which </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11588.64px;left:3188.41px;text-rendering:optimizeLegibility;white-space:nowrap">reflects </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11588.64px;left:3818.58px;white-space:nowrap">historical </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11838.64px;left:0px;white-space:nowrap">asset </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11838.64px;left:480.23px;white-space:nowrap">levels </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11838.64px;left:990.44px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11838.64px;left:1340.68px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11838.64px;left:1730.74px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11838.64px;left:1980.97px;white-space:nowrap">quite </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11838.64px;left:2421.3px;letter-spacing:-0.33px;white-space:nowrap">different </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11838.64px;left:3118.45px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11838.64px;left:3528.46px;white-space:nowrap">those </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11838.64px;left:4018.8px;white-space:nowrap">currently </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12088.64px;left:0px;white-space:nowrap">existing, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12088.64px;left:710.33px;white-space:nowrap">particularly </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12088.64px;left:1630.63px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12088.64px;left:1820.74px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12088.64px;left:1970.86px;white-space:nowrap">period </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12088.64px;left:2521.23px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12088.64px;left:2721.36px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12088.64px;left:3321.47px;letter-spacing:-1.11px;white-space:nowrap">volatility. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12088.64px;left:4048.33px;white-space:nowrap">While </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12338.64px;left:0px;white-space:nowrap">recognizing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12338.64px;left:970.58px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12338.64px;left:1400.8px;white-space:nowrap">inherent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12338.64px;left:2101.29px;white-space:nowrap">limitation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12338.64px;left:2861.54px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12338.64px;left:3211.88px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12338.64px;left:3512.11px;white-space:nowrap">fact </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12338.64px;left:3852.25px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12588.64px;left:0px;white-space:nowrap">expense </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12588.64px;left:730.55px;white-space:nowrap">ratios </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12588.64px;left:1220.71px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12588.64px;left:1571.04px;white-space:nowrap">Management </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12588.64px;left:2671.7px;white-space:nowrap">Rates </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12588.64px;left:3191.92px;white-space:nowrap">generally </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12588.64px;left:3972.39px;white-space:nowrap">increase </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:5220px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:5460.12px;white-space:nowrap">assets </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:6030.35px;white-space:nowrap">decline </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:6650.77px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:7001.1px;white-space:nowrap">decrease </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:7791.59px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:8031.71px;white-space:nowrap">assets </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:8601.94px;letter-spacing:-1.66px;white-space:nowrap">grow, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:9082.18px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:9382.41px;white-space:nowrap">Board </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:5220px;white-space:nowrap">believed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:5940.53px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:6240.76px;white-space:nowrap">independent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:7281.74px;white-space:nowrap">analysis </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:7982.05px;white-space:nowrap">conducted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:8862.71px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:9102.83px;white-space:nowrap">Broadridge </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:5220px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:5420.13px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:5670.35px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:5920.58px;white-space:nowrap">appropriate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:6881.22px;white-space:nowrap">measure </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:7631.54px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:7831.67px;white-space:nowrap">comparative </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:8862.1px;white-space:nowrap">fees </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:9252.33px;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">expenses. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:6087.3px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:6447.48px;white-space:nowrap">Broadridge </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:7378.07px;white-space:nowrap">Management </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:8478.72px;white-space:nowrap">Rate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:8908.95px;white-space:nowrap">includes </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:5220px;white-space:nowrap">administrative </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:6380.42px;white-space:nowrap">charges. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:7117.56px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:7477.73px;white-space:nowrap">Board </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:8008.07px;white-space:nowrap">received </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:8738.44px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:8888.55px;white-space:nowrap">description </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:9809.03px;white-space:nowrap">of </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">methodology </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:6600.94px;white-space:nowrap">used </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:7041.27px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:7281.39px;white-space:nowrap">Broadridge </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:8211.97px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:8412.1px;white-space:nowrap">select </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:8932.32px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:9232.56px;white-space:nowrap">mutual </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:5220px;white-space:nowrap">funds </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:5710.34px;white-space:nowrap">included </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:6430.87px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:6620.98px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:6921.21px;white-space:nowrap">Expense </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:7671.71px;white-space:nowrap">Group.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:5220px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:5580.18px;white-space:nowrap">Expense </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:6330.67px;white-space:nowrap">Group </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:6880.96px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:7141.03px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:7441.26px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:7901.54px;white-space:nowrap">included </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:8622.07px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:8922.3px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:9382.59px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:5220px;white-space:nowrap">eleven </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:5800.43px;white-space:nowrap">other </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:6260.71px;white-space:nowrap">high </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:6651.04px;white-space:nowrap">yield </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:7071.24px;white-space:nowrap">(leveraged) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:8031.71px;white-space:nowrap">closed-end </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:8962.29px;white-space:nowrap">funds. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:9549.4px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:5220px;white-space:nowrap">Board </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:5750.33px;white-space:nowrap">noted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:6250.78px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:6601.03px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:6901.26px;white-space:nowrap">Management </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:8001.91px;white-space:nowrap">Rate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:8432.14px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:8692.21px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:8992.44px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:9452.72px;white-space:nowrap">was </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:5220px;white-space:nowrap">equal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:5710.43px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:5910.56px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:6210.79px;white-space:nowrap">median </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:6851.16px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:7051.29px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:7281.3px;white-space:nowrap">Expense </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:8031.8px;white-space:nowrap">Group. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:8628.84px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:8989.01px;white-space:nowrap">Board </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:9519.35px;white-space:nowrap">also </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:5220px;white-space:nowrap">noted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:5720.45px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:6070.69px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:6370.93px;white-space:nowrap">annual </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:6961.46px;white-space:nowrap">total </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:7351.7px;white-space:nowrap">expense </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:8082.25px;white-space:nowrap">ratio </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:8482.41px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:8742.48px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:9042.71px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:9503px;white-space:nowrap">was </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:5220px;white-space:nowrap">less </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:5590.11px;white-space:nowrap">than </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:5990.45px;white-space:nowrap">three </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:6450.73px;white-space:nowrap">basis </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:6920.95px;white-space:nowrap">points </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:7451.28px;white-space:nowrap">above </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:7991.72px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:8291.95px;white-space:nowrap">median </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:8932.32px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:9132.45px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:9362.46px;white-space:nowrap">Expense </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:5220px;white-space:nowrap">Group. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:5817.04px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:6177.22px;white-space:nowrap">Board </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:6707.55px;white-space:nowrap">concluded </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:7578.19px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:7928.44px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:8228.67px;white-space:nowrap">Management </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:9329.33px;white-space:nowrap">Rate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:5220px;white-space:nowrap">charged </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:5920.49px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:6120.62px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:6420.85px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:6881.13px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:7061.13px;white-space:nowrap">reasonable.</div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:4088.64px;left:5220px;text-rendering:optimizeLegibility;white-space:nowrap">Profitability</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4338.64px;left:5220px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4338.64px;left:5580.18px;white-space:nowrap">Board </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4338.64px;left:6110.51px;white-space:nowrap">reviewed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4338.64px;left:6880.87px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4338.64px;left:7231.2px;white-space:nowrap">considered </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4338.64px;left:8161.79px;white-space:nowrap">information </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4338.64px;left:9102.22px;white-space:nowrap">regarding </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:5520.23px;text-rendering:optimizeLegibility;white-space:nowrap">profits </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:6060.41px;white-space:nowrap">realized </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:6740.77px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:6980.89px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:7281.12px;white-space:nowrap">Manager </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:8041.55px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:8391.88px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:8621.89px;text-rendering:optimizeLegibility;white-space:nowrap">affiliates </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:9332.23px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:5220px;white-space:nowrap">connection </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:6140.65px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:6510.76px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:6811px;white-space:nowrap">operation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:7611.59px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:7811.72px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:8111.95px;white-space:nowrap">Fund. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:8622.25px;white-space:nowrap">In </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:8822.37px;white-space:nowrap">this </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:9152.49px;white-space:nowrap">respect, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:5220px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:5520.23px;white-space:nowrap">Board </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:6050.57px;white-space:nowrap">considered </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:6981.15px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:7281.39px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:7741.67px;text-rendering:optimizeLegibility;white-space:nowrap">profitability </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:8652.04px;white-space:nowrap">analysis </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:9352.35px;white-space:nowrap">provided </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:5220px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:5460.12px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:5760.35px;white-space:nowrap">Manager </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:6520.78px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:6871.03px;white-space:nowrap">addresses </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:7751.51px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:8051.75px;white-space:nowrap">overall </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:8632px;text-rendering:optimizeLegibility;white-space:nowrap">profitability </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:9542.37px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:5220px;letter-spacing:-0.65px;white-space:nowrap">FT&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:5616.65px;white-space:nowrap">US </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:5916.71px;white-space:nowrap">fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:6317.05px;white-space:nowrap">business, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:7127.49px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:7367.61px;white-space:nowrap">well </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:7727.7px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:7967.81px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:8197.82px;text-rendering:optimizeLegibility;white-space:nowrap">profits </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:8738px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:8928.11px;white-space:nowrap">providing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:5220px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:6140.39px;white-space:nowrap">management </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:7241.04px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:7591.38px;white-space:nowrap">other </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:8051.66px;white-space:nowrap">services </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:8761.82px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:8961.94px;white-space:nowrap">each </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:9402.28px;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">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:5520.23px;white-space:nowrap">individual </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:6320.74px;white-space:nowrap">funds </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:6811.08px;white-space:nowrap">during </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:7361.46px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:7661.69px;white-space:nowrap">12-month </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:8472.13px;white-space:nowrap">period </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:9022.5px;white-space:nowrap">ended </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:5220px;white-space:nowrap">September </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:6150.5px;white-space:nowrap">30, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:6450.73px;white-space:nowrap">2020, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:6951.18px;white-space:nowrap">being </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:7441.61px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:7741.85px;white-space:nowrap">most </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:8181.91px;white-space:nowrap">recent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:8732.2px;text-rendering:optimizeLegibility;white-space:nowrap">fiscal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:9192.3px;white-space:nowrap">year-</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:5220px;white-space:nowrap">end </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:5570.33px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:5830.4px;white-space:nowrap">FRI. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:6217.12px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:6577.29px;white-space:nowrap">Board </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:7107.63px;white-space:nowrap">noted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:7608.08px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:7958.32px;white-space:nowrap">although </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:8698.97px;white-space:nowrap">management </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:5220px;white-space:nowrap">continually </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:6120.53px;white-space:nowrap">makes </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:6700.69px;text-rendering:optimizeLegibility;white-space:nowrap">refinements </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:7691.13px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:7891.26px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:8121.27px;white-space:nowrap">methodologies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:9342.07px;white-space:nowrap">used </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:5220px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:5410.11px;white-space:nowrap">calculating </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:6310.63px;text-rendering:optimizeLegibility;white-space:nowrap">profitability </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:7221.01px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:7411.11px;white-space:nowrap">response </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:8201.6px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:8401.73px;white-space:nowrap">organizational </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:5220px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:5570.33px;white-space:nowrap">product-related </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:6831.04px;white-space:nowrap">changes, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:7611.59px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:7911.83px;white-space:nowrap">overall </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:8492.08px;white-space:nowrap">methodology </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:9572.78px;white-space:nowrap">has </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:5220px;white-space:nowrap">remained </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:6020.42px;white-space:nowrap">consistent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:6880.87px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:7250.98px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:7601.22px;white-space:nowrap">used </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:8041.55px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:8231.66px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:8531.89px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:9118.92px;text-rendering:optimizeLegibility;white-space:nowrap">profitability </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:5220px;white-space:nowrap">report </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:5740.22px;white-space:nowrap">presentations </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:6870.94px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:7280.95px;white-space:nowrap">prior </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:7691.04px;white-space:nowrap">years. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:8227.97px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:8588.14px;white-space:nowrap">Board </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:9118.48px;white-space:nowrap">further </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:5220px;white-space:nowrap">noted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:5720.45px;letter-spacing:-0.25px;white-space:nowrap">management&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:6947.84px;white-space:nowrap">representation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:8148.6px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:8498.85px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:8799.08px;text-rendering:optimizeLegibility;white-space:nowrap">profitability </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:5220px;white-space:nowrap">analysis </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:5920.31px;white-space:nowrap">excluded </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:6690.85px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:6991.08px;white-space:nowrap">impact </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:7571.25px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:7771.38px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:8071.61px;white-space:nowrap">recent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:8621.89px;white-space:nowrap">acquisition </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:9522.42px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:5220px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:5520.23px;white-space:nowrap">Legg </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:5970.67px;white-space:nowrap">Mason </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:6560.95px;white-space:nowrap">companies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:7481.43px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:7831.76px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:8182px;white-space:nowrap">management </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:9282.66px;white-space:nowrap">expects </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:5220px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:5420.13px;white-space:nowrap">incorporate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:6370.66px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:6670.9px;white-space:nowrap">legacy </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:7241.22px;white-space:nowrap">Legg </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:7691.66px;white-space:nowrap">Mason </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:8281.93px;white-space:nowrap">companies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:9202.41px;white-space:nowrap">into </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:9542.64px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:5220px;text-rendering:optimizeLegibility;white-space:nowrap">profitability </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:6130.37px;white-space:nowrap">analysis </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:6830.68px;white-space:nowrap">beginning </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:7661.43px;white-space:nowrap">next </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:8051.66px;letter-spacing:-1.66px;white-space:nowrap">year. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:8538.66px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:8898.84px;white-space:nowrap">Board </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:9429.17px;white-space:nowrap">also </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:5220px;white-space:nowrap">noted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:5720.45px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:6070.69px;white-space:nowrap">PricewaterhouseCoopers </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:8141.75px;letter-spacing:-4.64px;white-space:nowrap">LLP, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:8538.84px;white-space:nowrap">auditor </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:9139.22px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:9339.35px;white-space:nowrap">FRI </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:5220px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:5570.33px;white-space:nowrap">certain </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:6160.61px;letter-spacing:-1.08px;white-space:nowrap">FT </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:6427.27px;white-space:nowrap">funds, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:6967.62px;white-space:nowrap">has </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:7307.84px;white-space:nowrap">been </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:7758.28px;white-space:nowrap">engaged </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:8509.04px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:8749.16px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:9049.39px;white-space:nowrap">Manager </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:9809.82px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:5220px;white-space:nowrap">periodically </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:6170.45px;white-space:nowrap">review </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:6740.6px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:7090.93px;white-space:nowrap">assess </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:7701.15px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:8001.39px;white-space:nowrap">allocation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:8811.91px;white-space:nowrap">methodologies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:5220px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:5420.13px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:5670.35px;white-space:nowrap">used </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:6110.68px;white-space:nowrap">solely </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:6620.89px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:6861.01px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:7161.24px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:7748.26px;white-space:nowrap">Board </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:8278.59px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:8648.7px;white-space:nowrap">respect </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:9288.98px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:9489.11px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:5220px;text-rendering:optimizeLegibility;white-space:nowrap">profitability </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:6130.37px;white-space:nowrap">analysis.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10768.64px;left:5220px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10768.64px;left:5580.18px;white-space:nowrap">Board </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10768.64px;left:6110.51px;white-space:nowrap">noted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10768.64px;left:6610.96px;letter-spacing:-0.25px;white-space:nowrap">management&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10768.64px;left:7838.35px;white-space:nowrap">belief </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10768.64px;left:8318.67px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10768.64px;left:8668.92px;white-space:nowrap">costs </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10768.64px;left:9139.04px;white-space:nowrap">incurred </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11018.64px;left:5220px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11018.64px;left:5410.11px;white-space:nowrap">establishing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11018.64px;left:6410.74px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11018.64px;left:6710.98px;white-space:nowrap">infrastructure </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11018.64px;left:7811.37px;white-space:nowrap">necessary </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11018.64px;left:8681.75px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11018.64px;left:8941.82px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11018.64px;left:9242.05px;white-space:nowrap">type </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11018.64px;left:9632.29px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11268.64px;left:5220px;white-space:nowrap">mutual </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11268.64px;left:5810.27px;white-space:nowrap">fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11268.64px;left:6210.62px;white-space:nowrap">operations </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11268.64px;left:7101.21px;white-space:nowrap">conducted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11268.64px;left:7981.88px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11268.64px;left:8221.99px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11268.64px;left:8522.23px;white-space:nowrap">Manager </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11268.64px;left:9282.66px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11518.64px;left:5220px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11518.64px;left:5450.01px;text-rendering:optimizeLegibility;white-space:nowrap">affiliates </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11518.64px;left:6160.34px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11518.64px;left:6550.4px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11518.64px;left:6850.63px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11518.64px;left:7100.86px;white-space:nowrap">fully </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11518.64px;left:7470.97px;text-rendering:optimizeLegibility;white-space:nowrap">reflected </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11518.64px;left:8211.36px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11518.64px;left:8401.46px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11518.64px;left:8701.7px;white-space:nowrap">expenses </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11768.64px;left:5220px;white-space:nowrap">allocated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11768.64px;left:5990.54px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11768.64px;left:6190.66px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11768.64px;left:6490.9px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11768.64px;left:6951.18px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11768.64px;left:7141.29px;white-space:nowrap">determining </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11768.64px;left:8131.82px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11768.64px;left:8361.83px;text-rendering:optimizeLegibility;letter-spacing:-0.89px;white-space:nowrap">profitability, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11768.64px;left:9308.85px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12018.64px;left:5220px;white-space:nowrap">well </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12018.64px;left:5580.09px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12018.64px;left:5820.21px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12018.64px;left:6120.44px;white-space:nowrap">fact </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12018.64px;left:6460.58px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12018.64px;left:6810.82px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12018.64px;left:7111.05px;white-space:nowrap">level </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12018.64px;left:7531.26px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12018.64px;left:7731.39px;text-rendering:optimizeLegibility;white-space:nowrap">profits, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12018.64px;left:8321.57px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12018.64px;left:8521.7px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12018.64px;left:8671.82px;white-space:nowrap">certain </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12018.64px;left:9262.09px;white-space:nowrap">extent, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12268.64px;left:5220px;text-rendering:optimizeLegibility;white-space:nowrap">reflected </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12268.64px;left:5960.39px;white-space:nowrap">operational </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12268.64px;left:6901.08px;white-space:nowrap">cost </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12268.64px;left:7281.21px;white-space:nowrap">savings </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12268.64px;left:7941.53px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12268.64px;left:8291.87px;text-rendering:optimizeLegibility;white-space:nowrap">efficiencies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12268.64px;left:9232.29px;white-space:nowrap">initiated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12518.64px;left:5220px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12518.64px;left:5460.12px;white-space:nowrap">management. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12518.64px;left:6600.85px;white-space:nowrap">As </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12518.64px;left:6860.92px;white-space:nowrap">part </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12518.64px;left:7221.09px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12518.64px;left:7421.22px;white-space:nowrap">this </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12518.64px;left:7751.34px;white-space:nowrap">evaluation, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12518.64px;left:8671.99px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12518.64px;left:8972.23px;white-space:nowrap">Board </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12768.64px;left:5220px;white-space:nowrap">considered </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12768.64px;left:6150.59px;letter-spacing:-0.25px;white-space:nowrap">management&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12768.64px;left:7377.98px;white-space:nowrap">outsourcing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12768.64px;left:8358.57px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12768.64px;left:8558.7px;white-space:nowrap">certain </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12768.64px;left:9148.97px;white-space:nowrap">operations, </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">which </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:510.21px;letter-spacing:-0.46px;white-space:nowrap">effort </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:967.15px;white-space:nowrap">has </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:1307.37px;white-space:nowrap">required </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:2017.79px;white-space:nowrap">considerable </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:3088.48px;white-space:nowrap">up </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:3338.7px;white-space:nowrap">front </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:3748.89px;white-space:nowrap">expenditures </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:0px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:240.12px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:540.35px;white-space:nowrap">Manager </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:1300.78px;white-space:nowrap">but, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:1651.03px;white-space:nowrap">over </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:2051.19px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:2351.43px;white-space:nowrap">long </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:2741.75px;white-space:nowrap">run </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:3051.91px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:3231.91px;white-space:nowrap">expected </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:4012.47px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:4212.6px;white-space:nowrap">result </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">greater </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:810.44px;text-rendering:optimizeLegibility;white-space:nowrap">efficiencies. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:1797.63px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:2157.8px;white-space:nowrap">Board </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:2688.13px;white-space:nowrap">also </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:3068.35px;white-space:nowrap">noted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:3568.8px;letter-spacing:-0.25px;white-space:nowrap">management&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:0px;white-space:nowrap">expenditures </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:1080.7px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:1270.81px;white-space:nowrap">improving </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:2101.11px;white-space:nowrap">shareholder </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:3101.75px;white-space:nowrap">services </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:3811.9px;white-space:nowrap">provided </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:0px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:200.13px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:500.36px;white-space:nowrap">Fund, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:1010.65px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:1250.77px;white-space:nowrap">well </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:1610.86px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:1850.98px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:2151.21px;white-space:nowrap">need </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:2601.65px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:2801.78px;white-space:nowrap">implement </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:3682.09px;white-space:nowrap">systems </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:4392.16px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:0px;white-space:nowrap">meet </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:450.18px;white-space:nowrap">additional </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:1270.81px;white-space:nowrap">regulatory </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:2121.24px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:2471.57px;white-space:nowrap">compliance </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:3432.04px;white-space:nowrap">requirements </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:0px;white-space:nowrap">resulting </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:730.37px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:1140.38px;white-space:nowrap">recent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:1690.66px;white-space:nowrap">US </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:1990.72px;white-space:nowrap">Securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:2831.04px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:3181.38px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:0px;white-space:nowrap">Commission </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:1040.19px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:1390.52px;white-space:nowrap">other </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:1850.8px;white-space:nowrap">regulatory </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:2701.23px;white-space:nowrap">requirements.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:0px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:360.18px;white-space:nowrap">Board </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:890.51px;white-space:nowrap">also </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:1270.72px;white-space:nowrap">considered </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:2201.31px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:2501.54px;white-space:nowrap">extent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:3041.89px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:3242.02px;white-space:nowrap">which </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:3752.23px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:4052.46px;white-space:nowrap">Manager </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:0px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:350.33px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:580.34px;text-rendering:optimizeLegibility;white-space:nowrap">affiliates </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:1290.67px;white-space:nowrap">might </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:1780.84px;white-space:nowrap">derive </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:2321.1px;white-space:nowrap">ancillary </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:3031.35px;text-rendering:optimizeLegibility;white-space:nowrap">benefits </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:3711.8px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:4121.81px;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">operations, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:940.61px;white-space:nowrap">potential </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:1671.15px;text-rendering:optimizeLegibility;white-space:nowrap">benefits </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:2351.6px;white-space:nowrap">resulting </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:3081.97px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:3491.98px;white-space:nowrap">personnel </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:0px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:350.33px;white-space:nowrap">systems </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:1060.4px;white-space:nowrap">enhancements </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:2291.22px;white-space:nowrap">necessitated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:3351.88px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:3592px;white-space:nowrap">fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:3992.34px;white-space:nowrap">growth, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:0px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:240.12px;white-space:nowrap">well </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:600.21px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:840.32px;white-space:nowrap">increased </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:1670.8px;white-space:nowrap">leverage </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:2411.28px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:2781.39px;white-space:nowrap">service </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:3401.54px;white-space:nowrap">providers </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:4191.86px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:0px;white-space:nowrap">counterparties. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:1240.66px;white-space:nowrap">Based </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:1801.05px;white-space:nowrap">upon </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:2251.49px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:2481.5px;white-space:nowrap">consideration </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:3602.2px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:3802.32px;white-space:nowrap">all </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:4032.42px;white-space:nowrap">these </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:0px;white-space:nowrap">factors, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:640.2px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:940.43px;white-space:nowrap">Board </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:1470.76px;white-space:nowrap">concluded </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:2341.41px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:2691.65px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:2991.88px;white-space:nowrap">level </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:3412.09px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:3612.22px;text-rendering:optimizeLegibility;white-space:nowrap">profits </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:4152.39px;white-space:nowrap">realized </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:0px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:240.12px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:540.35px;white-space:nowrap">Manager </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:1300.78px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:1651.11px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:1881.12px;text-rendering:optimizeLegibility;white-space:nowrap">affiliates </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:2591.46px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:3001.46px;white-space:nowrap">providing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:3781.93px;white-space:nowrap">services </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:4492.09px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:0px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:300.23px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:760.52px;white-space:nowrap">was </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:1130.63px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:1430.86px;white-space:nowrap">excessive </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:2271.18px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:2461.29px;white-space:nowrap">view </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:2871.39px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:3071.51px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:3371.75px;white-space:nowrap">nature, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:3982.15px;white-space:nowrap">extent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:4522.5px;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">quality </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:570.32px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:770.45px;white-space:nowrap">services </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:1480.61px;white-space:nowrap">provided </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:2221.08px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:2421.21px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:2721.45px;white-space:nowrap">Fund.</div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:4838.64px;left:0px;white-space:nowrap">Economies </div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:4838.64px;left:1010.3px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:4838.64px;left:1230.21px;white-space:nowrap">Scale</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:0px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:360.18px;white-space:nowrap">Board </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:890.51px;white-space:nowrap">reviewed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:1660.87px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:2011.2px;white-space:nowrap">considered </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:2941.79px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:3242.02px;white-space:nowrap">extent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:3782.37px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:3982.5px;white-space:nowrap">which </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:300.23px;white-space:nowrap">Manager </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:1060.66px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:1450.72px;white-space:nowrap">realize </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:2030.98px;white-space:nowrap">economies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:2951.46px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:3151.58px;white-space:nowrap">scale, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:3671.81px;white-space:nowrap">if </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:3811.82px;letter-spacing:-2.67px;white-space:nowrap">any, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:4188.69px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:4428.81px;white-space:nowrap">the </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">grows </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:990.44px;white-space:nowrap">larger </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:1500.64px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:1850.98px;white-space:nowrap">whether </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:2541.36px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:2841.59px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:3428.61px;white-space:nowrap">management </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:4529.27px;white-space:nowrap">fee </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:0px;white-space:nowrap">structure </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:750.23px;text-rendering:optimizeLegibility;white-space:nowrap">reflects </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:1380.41px;white-space:nowrap">any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:1720.63px;white-space:nowrap">economies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:2641.11px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:2841.24px;white-space:nowrap">scale </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:3311.46px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:3571.52px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:3871.76px;text-rendering:optimizeLegibility;white-space:nowrap">benefit </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:4462.21px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:0px;white-space:nowrap">shareholders. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:1137.39px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:1497.57px;white-space:nowrap">Board </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:2027.9px;white-space:nowrap">believes </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:2738.32px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:3088.56px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:3388.8px;letter-spacing:0.34px;white-space:nowrap">Manager&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:4282.65px;white-space:nowrap">ability </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">realize </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:780.38px;white-space:nowrap">economies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:1700.86px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:1900.99px;white-space:nowrap">scale </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:2371.2px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:2721.53px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:3021.77px;white-space:nowrap">sharing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:3662.14px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:3862.27px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:4292.49px;text-rendering:optimizeLegibility;white-space:nowrap">benefit </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:0px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:180px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:330.12px;white-space:nowrap">more </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:790.22px;white-space:nowrap">relevant </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:1480.61px;white-space:nowrap">consideration </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:2601.3px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:2791.41px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:3091.64px;white-space:nowrap">case </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:3521.87px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:3721.99px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:3972.22px;white-space:nowrap">open-end </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:0px;white-space:nowrap">fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:400.34px;white-space:nowrap">whose </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:970.66px;white-space:nowrap">size </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:1340.77px;white-space:nowrap">increases </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:2161.14px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:2401.26px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:2551.38px;white-space:nowrap">result </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:3041.54px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:3241.67px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:3541.9px;white-space:nowrap">continuous </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:4462.56px;white-space:nowrap">sale </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:0px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:200.13px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:430.14px;white-space:nowrap">shares. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:1060.49px;letter-spacing:-4.97px;white-space:nowrap">A </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:1220.63px;white-space:nowrap">closed-end </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:2151.21px;white-space:nowrap">fund, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:2601.56px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:3031.79px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:3271.9px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:3572.14px;white-space:nowrap">Fund, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:4082.43px;white-space:nowrap">does </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:0px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:300.23px;white-space:nowrap">continuously </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:1350.88px;letter-spacing:-0.54px;white-space:nowrap">offer </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:1757.81px;white-space:nowrap">shares, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:2398.1px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:2748.43px;white-space:nowrap">growth </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:3338.7px;white-space:nowrap">following </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:4089.11px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:4319.12px;white-space:nowrap">initial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:0px;white-space:nowrap">public </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:520.31px;letter-spacing:-0.36px;white-space:nowrap">offering </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:1167.45px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:1467.42px;white-space:nowrap">primarily </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:2197.44px;white-space:nowrap">result </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:2687.61px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:3097.62px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:3697.73px;white-space:nowrap">appreciation, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:0px;white-space:nowrap">which </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:510.21px;text-rendering:optimizeLegibility;white-space:nowrap">benefits </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:1190.65px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:1420.66px;white-space:nowrap">shareholders. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:2561.31px;white-space:nowrap">While </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:3061.41px;white-space:nowrap">believing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:3821.92px;white-space:nowrap">economies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:0px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:200.13px;white-space:nowrap">scale </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:670.34px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:870.47px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:1120.69px;white-space:nowrap">less </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:1490.8px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:1690.93px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:1841.04px;white-space:nowrap">factor </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:2341.23px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:2531.34px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:2831.57px;white-space:nowrap">context </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:3461.92px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:3662.05px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:3812.17px;white-space:nowrap">closed-end </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:0px;white-space:nowrap">fund, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:450.35px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:750.59px;white-space:nowrap">Board </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:1280.92px;white-space:nowrap">believes </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:1991.34px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:2191.46px;white-space:nowrap">some </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:2681.63px;white-space:nowrap">point </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:3121.96px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:3372.19px;white-space:nowrap">increase </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:4102.56px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:4292.67px;white-space:nowrap">size </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:0px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:390.06px;white-space:nowrap">lead </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:780.38px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:980.51px;white-space:nowrap">economies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:1900.99px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:2101.11px;white-space:nowrap">scale </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:2571.33px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:2921.57px;white-space:nowrap">would </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:3441.88px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:3692.11px;white-space:nowrap">shared </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:4292.49px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:0px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:300.23px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:760.52px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:1110.85px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:1340.86px;white-space:nowrap">shareholders </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:2431.49px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:2781.83px;white-space:nowrap">intends </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:3412.27px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:3612.39px;white-space:nowrap">monitor </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:4262.61px;white-space:nowrap">future </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:0px;white-space:nowrap">growth </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:590.27px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:790.4px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:1090.63px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:1550.92px;letter-spacing:-1.03px;white-space:nowrap">accordingly. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:2544.79px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:2904.96px;white-space:nowrap">Board </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:3435.29px;white-space:nowrap">considered </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:4365.88px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:0px;letter-spacing:0.34px;white-space:nowrap">Manager&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:893.85px;white-space:nowrap">view </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:1303.95px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:1654.19px;white-space:nowrap">any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:1994.41px;white-space:nowrap">analyses </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:2754.84px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:2954.97px;white-space:nowrap">potential </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:3685.52px;white-space:nowrap">economies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:0px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:200.13px;white-space:nowrap">scale </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:670.34px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:860.45px;white-space:nowrap">managing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:1701.04px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:1851.15px;white-space:nowrap">particular </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:2641.46px;white-space:nowrap">fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:3041.81px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:3351.97px;white-space:nowrap">inherently </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:4182.45px;white-space:nowrap">limited </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:0px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:190.11px;white-space:nowrap">light </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:570.32px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:770.45px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:1070.68px;white-space:nowrap">joint </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:1450.9px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:1801.23px;white-space:nowrap">common </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:2541.45px;white-space:nowrap">costs </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:3011.57px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:3361.9px;white-space:nowrap">investments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:4372.29px;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">Manager </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:760.43px;white-space:nowrap">incurs </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:1290.59px;white-space:nowrap">across </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:1870.75px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:2170.99px;letter-spacing:-1.08px;white-space:nowrap">FT </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:2437.65px;white-space:nowrap">family </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:2957.7px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:3157.82px;white-space:nowrap">funds </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:3648.16px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:3888.28px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:4038.4px;white-space:nowrap">whole.</div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:10518.64px;left:0px;white-space:nowrap">Conclusion</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10768.64px;left:0px;white-space:nowrap">Based </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10768.64px;left:560.39px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10768.64px;left:810.62px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10768.64px;left:1040.63px;letter-spacing:-1.24px;white-space:nowrap">review, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10768.64px;left:1650.85px;white-space:nowrap">consideration </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10768.64px;left:2771.54px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10768.64px;left:3121.88px;white-space:nowrap">evaluation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10768.64px;left:3992.52px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10768.64px;left:4192.65px;white-space:nowrap">all </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11018.64px;left:0px;white-space:nowrap">factors </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11018.64px;left:590.19px;white-space:nowrap">it </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11018.64px;left:730.2px;white-space:nowrap">believed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11018.64px;left:1450.72px;white-space:nowrap">relevant, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11018.64px;left:2191.11px;white-space:nowrap">including </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11018.64px;left:2951.63px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11018.64px;left:3251.87px;white-space:nowrap">above-described </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11268.64px;left:0px;white-space:nowrap">factors </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11268.64px;left:590.19px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11268.64px;left:940.52px;white-space:nowrap">conclusions, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11268.64px;left:1981.05px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11268.64px;left:2281.29px;white-space:nowrap">Board </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11268.64px;left:2811.62px;white-space:nowrap">unanimously </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11268.64px;left:3872.2px;white-space:nowrap">approved </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11518.64px;left:0px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11518.64px;left:300.23px;white-space:nowrap">continuation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11518.64px;left:1321px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11518.64px;left:1521.12px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11518.64px;left:1821.36px;white-space:nowrap">Management </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11518.64px;left:2912.08px;white-space:nowrap">Agreement </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11518.64px;left:3842.58px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11518.64px;left:4102.65px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11768.64px;left:0px;white-space:nowrap">additional </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11768.64px;left:820.63px;white-space:nowrap">one-year </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11768.64px;left:1581.06px;white-space:nowrap">period.</div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:-30.85px;left:5220px;white-space:nowrap">Proxy </div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:-30.85px;left:5956.84px;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:6751.94px;white-space:nowrap">Policies </div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:-30.85px;left:7720.09px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:-30.85px;left:8226.12px;white-space:nowrap">Procedures</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344.48px;left:5220px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344.48px;left:5580.18px;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:6167.2px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344.48px;left:7087.59px;white-space:nowrap">manager </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344.48px;left:7848.02px;white-space:nowrap">has </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344.48px;left:8188.24px;white-space:nowrap">established </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344.48px;left:9148.89px;white-space:nowrap">Proxy </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594.48px;left:5220px;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:5770.46px;white-space:nowrap">Policies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594.48px;left:6440.71px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594.48px;left:6791.04px;white-space:nowrap">Procedures </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594.48px;left:7761.53px;white-space:nowrap">(Policies) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594.48px;left:8551.67px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594.48px;left:8901.91px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594.48px;left:9202.15px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:844.48px;left:5220px;white-space:nowrap">uses </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:844.48px;left:5650.22px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:844.48px;left:5850.35px;white-space:nowrap">determine </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:844.48px;left:6700.78px;white-space:nowrap">how </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:844.48px;left:7081px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:844.48px;left:7281.12px;white-space:nowrap">vote </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:844.48px;left:7671.36px;white-space:nowrap">proxies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:844.48px;left:8301.62px;white-space:nowrap">relating </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:844.48px;left:8941.99px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:844.48px;left:9142.12px;white-space:nowrap">portfolio </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1094.48px;left:5220px;white-space:nowrap">securities. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1094.48px;left:6080.27px;white-space:nowrap">Shareholders </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1094.48px;left:7200.97px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1094.48px;left:7591.03px;white-space:nowrap">view </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1094.48px;left:8001.12px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1094.48px;left:8301.36px;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:8888.38px;white-space:nowrap">complete </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1344.48px;left:5220px;white-space:nowrap">Policies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1344.48px;left:5890.25px;white-space:nowrap">online </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1344.48px;left:6420.67px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1344.48px;left:6620.8px;white-space:nowrap">franklintempleton.com. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1344.48px;left:8471.69px;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:5220px;white-space:nowrap">shareholders </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1594.48px;left:6310.63px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1594.48px;left:6700.69px;white-space:nowrap">request </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1594.48px;left:7351.08px;white-space:nowrap">copies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1594.48px;left:7921.41px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1594.48px;left:8121.53px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1594.48px;left:8421.77px;white-space:nowrap">Policies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1594.48px;left:9092.02px;white-space:nowrap">free </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1594.48px;left:9452.2px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1844.48px;left:5220px;white-space:nowrap">charge </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1844.48px;left:5820.38px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1844.48px;left:6060.5px;white-space:nowrap">calling </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1844.48px;left:6620.8px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1844.48px;left:6921.04px;white-space:nowrap">Proxy </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1844.48px;left:7431.15px;white-space:nowrap">Group </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1844.48px;left:7981.44px;white-space:nowrap">collect </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1844.48px;left:8541.65px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1844.48px;left:8741.78px;white-space:nowrap">(954) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1844.48px;left:9211.99px;white-space:nowrap">527-</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2094.48px;left:5220px;white-space:nowrap">7678 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2094.48px;left:5670.44px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2094.48px;left:5880.5px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2094.48px;left:6120.62px;white-space:nowrap">sending </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2094.48px;left:6801.15px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2094.48px;left:6951.27px;white-space:nowrap">written </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2094.48px;left:7531.44px;white-space:nowrap">request </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2094.48px;left:8181.83px;white-space:nowrap">to: </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2094.48px;left:8431.96px;white-space:nowrap">Franklin </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2094.48px;left:9118.92px;letter-spacing:-2px;white-space:nowrap">Templeton </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2344.48px;left:5220px;white-space:nowrap">Companies, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2344.48px;left:6230.48px;white-space:nowrap">LLC, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2344.48px;left:6660.7px;white-space:nowrap">300 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2344.48px;left:7011.04px;white-space:nowrap">S.E. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2344.48px;left:7401.18px;white-space:nowrap">2nd </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2344.48px;left:7751.51px;white-space:nowrap">Street, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2344.48px;left:8331.77px;white-space:nowrap">Fort </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2344.48px;left:8701.79px;white-space:nowrap">Lauderdale, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2594.48px;left:5220px;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:5473.39px;white-space:nowrap">33301, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2594.48px;left:6064.01px;white-space:nowrap">Attention: </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2594.48px;left:6874.54px;white-space:nowrap">Proxy </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2594.48px;left:7384.66px;white-space:nowrap">Group. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2594.48px;left:7984.95px;white-space:nowrap">Copies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2594.48px;left:8595.26px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2594.48px;left:8795.39px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2594.48px;left:9095.63px;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:5220px;white-space:nowrap">proxy </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2844.48px;left:5710.17px;white-space:nowrap">voting </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2844.48px;left:6240.5px;white-space:nowrap">records </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2844.48px;left:6890.71px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2844.48px;left:7200.88px;white-space:nowrap">also </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2844.48px;left:7581.09px;white-space:nowrap">made </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2844.48px;left:8081.37px;white-space:nowrap">available </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2844.48px;left:8841.88px;white-space:nowrap">online </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2844.48px;left:9372.3px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3094.48px;left:5220px;white-space:nowrap">franklintempleton.com </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3094.48px;left:7030.81px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3094.48px;left:7381.14px;white-space:nowrap">posted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3094.48px;left:7971.59px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3094.48px;left:8221.82px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3094.48px;left:8522.05px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3094.48px;left:8922.13px;white-space:nowrap">Securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3094.48px;left:9762.45px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3344.48px;left:5220px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3344.48px;left:6070.61px;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:7237.53px;white-space:nowrap">website </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3344.48px;left:7897.85px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3344.48px;left:8097.98px;white-space:nowrap">sec.gov </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3344.48px;left:8768.32px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3344.48px;left:9118.65px;text-rendering:optimizeLegibility;white-space:nowrap">reflect </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3344.48px;left:9658.83px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3594.48px;left:5220px;white-space:nowrap">most </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3594.48px;left:5660.07px;white-space:nowrap">recent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3594.48px;left:6210.35px;white-space:nowrap">12-month </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3594.48px;left:7020.79px;white-space:nowrap">period </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3594.48px;left:7571.16px;white-space:nowrap">ended </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3594.48px;left:8121.71px;white-space:nowrap">June </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3594.48px;left:8562.04px;white-space:nowrap">30.</div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:4170.75px;left:5220px;white-space:nowrap">Quarterly </div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:4170.75px;left:6361.44px;white-space:nowrap">Statement </div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:4170.75px;left:7618.78px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:4170.75px;left:7907.85px;white-space:nowrap">Investments</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4546.08px;left:5220px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4546.08px;left:5580.18px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4546.08px;left:6040.46px;text-rendering:optimizeLegibility;white-space:nowrap">files </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4546.08px;left:6410.57px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4546.08px;left:6560.68px;white-space:nowrap">complete </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4546.08px;left:7341.06px;white-space:nowrap">statement </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4546.08px;left:8181.47px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4546.08px;left:8381.6px;white-space:nowrap">investments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4546.08px;left:9391.99px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4796.08px;left:5220px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4796.08px;left:5520.23px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4796.08px;left:5920.31px;white-space:nowrap">Securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4796.08px;left:6760.63px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4796.08px;left:7110.97px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4796.08px;left:7961.57px;white-space:nowrap">Commission </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4796.08px;left:9001.76px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4796.08px;left:9261.83px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4796.08px;left:9562.06px;text-rendering:optimizeLegibility;white-space:nowrap">first </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5046.08px;left:5220px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5046.08px;left:5570.33px;white-space:nowrap">third </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5046.08px;left:5970.5px;white-space:nowrap">quarters </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5046.08px;left:6680.83px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5046.08px;left:6940.9px;white-space:nowrap">each </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5046.08px;left:7381.23px;text-rendering:optimizeLegibility;white-space:nowrap">fiscal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5046.08px;left:7841.34px;white-space:nowrap">year </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5046.08px;left:8241.5px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5046.08px;left:8481.62px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5046.08px;left:8731.85px;white-space:nowrap">exhibit </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5046.08px;left:9302.17px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5046.08px;left:9502.29px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5296.08px;left:5220px;white-space:nowrap">report </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5296.08px;left:5740.22px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5296.08px;left:5990.45px;white-space:nowrap">Form </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5296.08px;left:6460.4px;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:7227.16px;white-space:nowrap">Shareholders </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5296.08px;left:8347.85px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5296.08px;left:8737.91px;white-space:nowrap">view </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5296.08px;left:9148.01px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5296.08px;left:9448.24px;text-rendering:optimizeLegibility;white-space:nowrap">filed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5546.08px;left:5220px;white-space:nowrap">Form </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5546.08px;left:5689.95px;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:6423.4px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5546.08px;left:6663.52px;white-space:nowrap">visiting </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5546.08px;left:7263.72px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5546.08px;left:7563.96px;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:8730.88px;white-space:nowrap">website </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5546.08px;left:9391.2px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5546.08px;left:9591.33px;white-space:nowrap">sec.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5796.08px;left:5220px;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:5593.62px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5796.08px;left:5953.8px;text-rendering:optimizeLegibility;white-space:nowrap">filed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5796.08px;left:6334.01px;white-space:nowrap">form </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5796.08px;left:6744.02px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5796.08px;left:7134.08px;white-space:nowrap">also </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5796.08px;left:7514.3px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5796.08px;left:7764.52px;white-space:nowrap">viewed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5796.08px;left:8374.83px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5796.08px;left:8725.17px;white-space:nowrap">copied </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5796.08px;left:9305.6px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5796.08px;left:9505.72px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6046.08px;left:5220px;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:6386.92px;white-space:nowrap">Public </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6046.08px;left:6927.19px;white-space:nowrap">Reference </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6046.08px;left:7807.68px;white-space:nowrap">Room </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6046.08px;left:8337.83px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6046.08px;left:8527.94px;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:9571.82px;white-space:nowrap">DC. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6296.08px;left:5220px;white-space:nowrap">Information </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6296.08px;left:6170.45px;white-space:nowrap">regarding </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6296.08px;left:6980.98px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6296.08px;left:7281.21px;white-space:nowrap">operations </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6296.08px;left:8171.81px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6296.08px;left:8371.93px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6296.08px;left:8672.17px;white-space:nowrap">Public </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6296.08px;left:9212.43px;white-space:nowrap">Reference </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6546.08px;left:5220px;white-space:nowrap">Room </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6546.08px;left:5750.16px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6546.08px;left:6140.21px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6546.08px;left:6390.44px;white-space:nowrap">obtained </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6546.08px;left:7131.09px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6546.08px;left:7371.21px;white-space:nowrap">calling </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6546.08px;left:7931.51px;white-space:nowrap">(800) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6546.08px;left:8401.73px;white-space:nowrap">SEC-0330.</div></div>
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</div></div><div data-page="" style="page-break-after:always;margin:-8px;position:relative;height:928.8px;width:712.8px;transform-origin:top left;transform:scale(1.2,1.2)"><div style="position:absolute;top:0px;left:0px;width:594px;height:774px">
		<div style="height:9px;left:477px;position:absolute;top:737px;width:80px">
			<div style="width:1613px;height:101px;position:absolute;top:2.67px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, sans-serif;font-size:120px;position:absolute;top:-14.24px;left:934.69px;letter-spacing:-0.54px;white-space:nowrap">FUT </div><div style="font-family:Arial, sans-serif;font-size:120px;position:absolute;top:-14.24px;left:1199.13px;white-space:nowrap">S </div><div style="font-family:Arial, sans-serif;font-size:120px;position:absolute;top:-14.24px;left:1312.51px;white-space:nowrap">04/21</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:10074.28px;left:0px;letter-spacing:-6.65px;white-space:nowrap">To </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10074.28px;left:240.12px;white-space:nowrap">help </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10074.28px;left:630.44px;white-space:nowrap">ensure </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10074.28px;left:1230.82px;white-space:nowrap">we </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10074.28px;left:1510.93px;white-space:nowrap">provide </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10074.28px;left:2151.3px;white-space:nowrap">you </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10074.28px;left:2491.52px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10074.28px;left:2861.63px;white-space:nowrap">quality </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10074.28px;left:3431.95px;white-space:nowrap">service, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10074.28px;left:4102.12px;white-space:nowrap">all </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10074.28px;left:4332.22px;white-space:nowrap">calls </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10074.28px;left:4742.31px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10074.28px;left:4942.44px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10074.28px;left:5292.77px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10074.28px;left:5702.78px;white-space:nowrap">our </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10074.28px;left:6012.95px;white-space:nowrap">service </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10074.28px;left:6633.11px;white-space:nowrap">areas </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10074.28px;left:7133.38px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10074.28px;left:7443.54px;white-space:nowrap">monitored </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10074.28px;left:8293.97px;white-space:nowrap">and/or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10074.28px;left:8854.37px;white-space:nowrap">recorded.</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:10800.46px;left:3210px;white-space:nowrap">Semiannual </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:10800.46px;left:4152.5px;white-space:nowrap">Report</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:11003.35px;left:3210px;white-space:nowrap">Franklin </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:11003.35px;left:3876.8px;white-space:nowrap">Universal </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:11003.35px;left:4641.64px;letter-spacing:-1.77px;white-space:nowrap">Trust</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:11380px;left:3210px;white-space:nowrap">Investment </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:11380px;left:4099.14px;white-space:nowrap">Manager</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:11380px;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:11380px;left:6019.92px;white-space:nowrap">Agent</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11582.88px;left:3210px;white-space:nowrap">Franklin </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11582.88px;left:3814.69px;white-space:nowrap">Advisers, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11582.88px;left:4517.11px;white-space:nowrap">Inc.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11774.88px;left:3210px;white-space:nowrap">(800) </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11774.88px;left:3627.97px;letter-spacing:-1.19px;white-space:nowrap">DIAL </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11774.88px;left:4022.19px;white-space:nowrap">BEN</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:11778.09px;left:4351.17px;white-space:nowrap">&#174;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11774.88px;left:4464.36px;white-space:nowrap">/ </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11966.88px;left:3210px;white-space:nowrap">342-5236</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11582.88px;left:5350px;white-space:nowrap">American </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11582.88px;left:6070.23px;white-space:nowrap">Stock </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11582.88px;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:11582.88px;left:7146.17px;white-space:nowrap">&amp; </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11582.88px;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:11582.88px;left:7697.42px;white-space:nowrap">Co., </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11582.88px;left:8035.31px;white-space:nowrap">LLC</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11774.88px;left:5350px;white-space:nowrap">6201 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11774.88px;left:5750.39px;white-space:nowrap">15th </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11774.88px;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:11966.88px;left:5350px;white-space:nowrap">Brooklyn, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11966.88px;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:11966.88px;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:12158.88px;left:5350px;text-rendering:optimizeLegibility;letter-spacing:-0.44px;white-space:nowrap">www.astfinancial.com</div></div>
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2. Code of Ethics.</div></b></div>

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<div style="font-size: 12.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;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;">(a)
The Registrant has adopted a code of ethics that applies to its principal
executive officers and principal financial and accounting officer.&#160; </div></div>

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<div style="font-size: 12.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;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;">(c)
N/A</div></div>

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<div style="font-size: 12.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;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;">(d)
N/A</div></div>

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<div style="font-size: 12.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;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;">(f)
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>

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

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

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<div style="font-size: 12.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;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;">(a)(1)
The Registrant has an audit committee financial expert serving on its audit
committee.</div></div>

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<div style="font-size: 12.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;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;">(2)
The audit committee financial expert is Mary C. Choksi and she is
"independent" as defined under the relevant Securities and Exchange
Commission Rules and Releases. </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="mso-style-name: term1;font-weight: bold;display: inline;"><div style="font-family: &quot;Courier New&quot;;display: inline;">&#160;</div></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="mso-style-name: term1;font-weight: bold;display: inline;"><div style="font-family: &quot;Courier New&quot;;display: inline;">&#160;</div></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="mso-style-name: term1;font-weight: bold;display: inline;"><div style="font-family: &quot;Courier New&quot;;display: inline;">Item 4.</div></div><strong><div style="font-family: &quot;Courier New&quot;;display: inline;"> Principal Accountant Fees and Services.&#160;&#160;&#160;&#160; &#160;</div></strong><b><div style="font-family: &quot;Courier New&quot;;display: inline;">N/A</div></b></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"><strong><div style="font-family: &quot;Courier New&quot;;display: inline;">&#160;</div></strong></pre>

<div style="font-size: 12.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;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;">&#160;</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;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;font-family: &quot;Courier New&quot;;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;Times New Roman&quot;,&quot;serif&quot;;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;Times New Roman&quot;,&quot;serif&quot;;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;">Members of the Audit Committee are: Mary C. Choksi, J. Michael
Luttig and Larry D. Thompson.</div></strong></div>

<div style="font-size: 12.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;text-indent: .5in;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;">&#160;</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;text-indent: .5in;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;">&#160;</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><b><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;&#160;&#160;&#160;&#160;&#160; N/A</div></b></div>

<div style="font-size: 12.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><b><div style="font-size: 10.0pt;font-family: &quot;Courier New&quot;;display: inline;"><br>
<br>
</div></b></div>

<div style="font-size: 12.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><b><div style="font-size: 10.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;display: inline;">Item 7</div></b><div style="font-size: 10.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;display: inline;">. <b>Disclosure of Proxy
Voting Policies and Procedures for Closed-End Management Investment Companies. &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; N/A</b></div></div>

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

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

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

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

<div style="font-size: 12.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;text-indent: -45.0pt;margin-right: 0in;margin-left: 45.0pt;margin-top: 0in;margin-bottom: .0001pt"><b><div style="font-size: 10.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;display: inline;">Item
8. Portfolio Managers of Closed-End Management Investment Companies.</div></b><b><div style="font-size: 10.0pt;font-family: &quot;Courier New&quot;;display: inline;"> &#160;&#160;&#160;&#160;&#160;&#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;Times New Roman&quot;,&quot;serif&quot;;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><b><div style="font-size: 10.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;display: inline;">&#160;</div></b></div>

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

<div style="font-size: 12.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;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;">&#160;</div></div>

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

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

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

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

<div style="font-size: 12.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;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;">&#160;</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;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;">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>

<div style="font-size: 12.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;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;">&#160;</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;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;">&#160;</div></div>

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

<div style="font-size: 12.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;text-indent: .5in;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;">&#160;</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;background: white;margin-right: 0in;margin-left: 0in;margin-top: 6.0pt;margin-bottom: .0001pt"><b><div style="font-size: 10.0pt;display: inline;">(a)</div></b><div style="font-size: 10.0pt;display: inline;">&#160;<b><u>Evaluation
of Disclosure Controls and Procedures</u></b>.</div><div style="font-size: 10.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;display: inline;"> </div><div style="font-size: 10.0pt;font-family: &quot;Courier New&quot;;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;Times New Roman&quot;,&quot;serif&quot;;background: white;margin-right: 0in;margin-left: 0in;margin-top: 6.0pt;margin-bottom: .0001pt"><div style="font-size: 10.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;display: inline;">&#160;</div></div>

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

<div style="font-size: 12.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><b><div style="font-size: 10.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;display: inline;">(b)&#160;<u>Changes in Internal Controls</u>. </div></b><div style="font-size: 10.0pt;font-family: &quot;Courier New&quot;;display: inline;">There have been no changes
in the Registrant&#8217;s internal control over financial reporting that occurred during
the period covered by this report that has materially affected, or is
reasonably likely to materially affect the internal control over financial
reporting.</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;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;">&#160;</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;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;">&#160;</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><b><div style="font-size: 10.0pt;font-family: &quot;Courier New&quot;;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; </div></b></div>

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

<div style="font-size: 12.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: 12.0pt"><b><div style="font-size: 10.0pt;font-family: &quot;Courier New&quot;;display: inline;">Securities lending agent</div></b><div style="font-size: 10.0pt;font-family: &quot;Courier New&quot;;display: inline;"> The board of trustees has
approved the Fund&#8217;s participation in a securities lending program. Under the
securities lending program, Bank of New York Mellon serves as the Fund&#8217;s
securities lending agent. </div></div>

<div style="font-size: 12.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;text-autospace: none;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;">For the six months ended February 28, 2021, the income
earned by the Fund as well as the fees and/or compensation paid by the Fund in
dollars pursuant to a securities lending agreement between the Trust with
respect to the Fund and the Securities Lending Agent were as follows (figures
may differ from those shown in shareholder reports due to time of availability
and use of estimates):</div></div>

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

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

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

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

<table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse">
 <tr>
  <td width="474" valign="top" style="width: 355.75pt;border: solid windowtext 1.0pt;padding: 0in 5.4pt 0in 5.4pt">
  <div style="font-size: 12.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><b><div style="font-size: 10.0pt;font-family: &quot;Courier New&quot;;color: black;layout-grid-mode: line;display: inline;">Gross income earned by the Fund
  from&#160;securities lending activities</div></b></div>
  </td>
  <td width="116" valign="top" style="width: 87.05pt;border: solid windowtext 1.0pt;border-left: none;padding: 0in 5.4pt 0in 5.4pt">
  <div style="font-size: 12.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;font-family: &quot;Courier New&quot;;color: black;layout-grid-mode: line;display: inline;">$73</div></div>
  </td>
 </tr>
 <tr>
  <td width="474" valign="top" style="width: 355.75pt;border: solid windowtext 1.0pt;border-top: none;padding: 0in 5.4pt 0in 5.4pt">
  <div style="font-size: 12.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><i><div style="font-size: 10.0pt;font-family: &quot;Courier New&quot;;color: black;layout-grid-mode: line;display: inline;">Fees and/or compensation paid by the Fund
  for securities lending activities and related services</div></i></div>
  </td>
  <td width="116" valign="top" style="width: 87.05pt;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 style="font-size: 12.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-family: &quot;Courier New&quot;;layout-grid-mode: line;display: inline;">&#160;</div></div>
  </td>
 </tr>
 <tr>
  <td width="474" valign="top" style="width: 355.75pt;border: solid windowtext 1.0pt;border-top: none;padding: 0in 5.4pt 0in 5.4pt">
  <div style="font-size: 12.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;margin-right: 0in;margin-left: .25in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;font-family: &quot;Courier New&quot;;color: black;layout-grid-mode: line;display: inline;">Fees paid to
  Securities Lending Agent from revenue split</div></div>
  </td>
  <td width="116" valign="top" style="width: 87.05pt;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 style="font-size: 12.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;font-family: &quot;Courier New&quot;;color: black;layout-grid-mode: line;display: inline;">$6</div></div>
  </td>
 </tr>
 <tr>
  <td width="474" valign="top" style="width: 355.75pt;border: solid windowtext 1.0pt;border-top: none;padding: 0in 5.4pt 0in 5.4pt">
  <div style="font-size: 12.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;margin-right: 0in;margin-left: .25in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;font-family: &quot;Courier New&quot;;color: black;layout-grid-mode: line;display: inline;">Fees paid for
  any cash collateral management service (including fees deducted from a pooled
  cash collateral reinvestment vehicle) not included in a revenue split</div><div style="font-size: 10.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;display: inline;">&#160;
  </div></div>
  </td>
  <td width="116" valign="top" style="width: 87.05pt;border-top: none;border-left: none;border-bottom: solid windowtext 1.0pt;border-right: solid windowtext 1.0pt;padding: 0in 5.4pt 0in 5.4pt">
  <div style="font-size: 12.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;font-family: &quot;Courier New&quot;;color: black;layout-grid-mode: line;display: inline;">$-</div></div>
  </td>
 </tr>
 <tr>
  <td width="474" valign="top" style="width: 355.75pt;border: solid windowtext 1.0pt;border-top: none;padding: 0in 5.4pt 0in 5.4pt">
  <div style="font-size: 12.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;margin-right: 0in;margin-left: .25in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;font-family: &quot;Courier New&quot;;color: black;layout-grid-mode: line;display: inline;">Administrative
  fees not included in a revenue split</div></div>
  </td>
  <td width="116" valign="top" style="width: 87.05pt;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 style="font-size: 12.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;font-family: &quot;Courier New&quot;;color: black;layout-grid-mode: line;display: inline;">$-</div></div>
  </td>
 </tr>
 <tr>
  <td width="474" valign="top" style="width: 355.75pt;border: solid windowtext 1.0pt;border-top: none;padding: 0in 5.4pt 0in 5.4pt">
  <div style="font-size: 12.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;margin-right: 0in;margin-left: .25in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;font-family: &quot;Courier New&quot;;color: black;layout-grid-mode: line;display: inline;">Indemnification
  fees not included in a revenue split</div><div style="font-size: 10.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;display: inline;"> </div></div>
  </td>
  <td width="116" valign="top" style="width: 87.05pt;border-top: none;border-left: none;border-bottom: solid windowtext 1.0pt;border-right: solid windowtext 1.0pt;padding: 0in 5.4pt 0in 5.4pt">
  <div style="font-size: 12.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;font-family: &quot;Courier New&quot;;color: black;layout-grid-mode: line;display: inline;">$-</div></div>
  </td>
 </tr>
 <tr>
  <td width="474" valign="top" style="width: 355.75pt;border: solid windowtext 1.0pt;border-top: none;padding: 0in 5.4pt 0in 5.4pt">
  <div style="font-size: 12.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;margin-right: 0in;margin-left: .25in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;font-family: &quot;Courier New&quot;;color: black;layout-grid-mode: line;display: inline;">Rebate (paid to
  borrower)</div></div>
  </td>
  <td width="116" valign="top" style="width: 87.05pt;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 style="font-size: 12.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;font-family: &quot;Courier New&quot;;color: black;layout-grid-mode: line;display: inline;">$-</div></div>
  </td>
 </tr>
 <tr>
  <td width="474" valign="top" style="width: 355.75pt;border: solid windowtext 1.0pt;border-top: none;padding: 0in 5.4pt 0in 5.4pt">
  <div style="font-size: 12.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;margin-right: 0in;margin-left: .25in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;font-family: &quot;Courier New&quot;;color: black;layout-grid-mode: line;display: inline;">Other fees not
  included above</div></div>
  </td>
  <td width="116" valign="top" style="width: 87.05pt;border-top: none;border-left: none;border-bottom: solid windowtext 1.0pt;border-right: solid windowtext 1.0pt;padding: 0in 5.4pt 0in 5.4pt">
  <div style="font-size: 12.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;font-family: &quot;Courier New&quot;;color: black;layout-grid-mode: line;display: inline;">$-</div></div>
  </td>
 </tr>
 <tr>
  <td width="474" valign="top" style="width: 355.75pt;border: solid windowtext 1.0pt;border-top: none;padding: 0in 5.4pt 0in 5.4pt">
  <div style="font-size: 12.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><b><div style="font-size: 10.0pt;font-family: &quot;Courier New&quot;;color: black;layout-grid-mode: line;display: inline;">Aggregate fees/compensation paid by the
  Fund for securities lending activities</div></b></div>
  </td>
  <td width="116" valign="top" style="width: 87.05pt;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 style="font-size: 12.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;font-family: &quot;Courier New&quot;;color: black;layout-grid-mode: line;display: inline;">$6</div></div>
  </td>
 </tr>
 <tr>
  <td width="474" valign="top" style="width: 355.75pt;border: solid windowtext 1.0pt;border-top: none;padding: 0in 5.4pt 0in 5.4pt">
  <div style="font-size: 12.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><b><div style="font-size: 10.0pt;font-family: &quot;Courier New&quot;;color: black;layout-grid-mode: line;display: inline;">Net income from securities lending
  activities</div></b></div>
  </td>
  <td width="116" valign="top" style="width: 87.05pt;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 style="font-size: 12.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;font-family: &quot;Courier New&quot;;color: black;layout-grid-mode: line;display: inline;">$67</div></div>
  </td>
 </tr>
</table>

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

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

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

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

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

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

<div style="font-size: 12.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;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;">&#160;</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;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;"><a href="coe.htm">codeofethics</a></div></div>

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

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

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

<div style="font-size: 12.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;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;">&#160;</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;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;"><a href="fut906.htm">section906</a></div></div>

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

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

<div align="center" style="font-size: 12.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;text-align: center;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><b><div style="font-size: 10.0pt;font-family: &quot;Courier New&quot;;display: inline;">SIGNATURES</div></b></div>

<div style="font-size: 12.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;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;">&#160;</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;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;">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;Times New Roman&quot;,&quot;serif&quot;;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;">&#160;</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><b><div style="font-size: 10.0pt;font-family: &quot;Courier New&quot;;display: inline;">FRANKLIN</div></b><b><div style="font-size: 10.0pt;font-family: &quot;Courier New&quot;;display: inline;"> UNIVERSAL TRUST</div></b></div>

<div style="font-size: 12.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;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;">&#160;</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;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;">&#160;</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;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;">By <u>_S\Matthew
T. Hinkle&#160; &#160;________</u></div></div>

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

<div style="font-size: 12.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;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;">&#160;&#160; Chief
Executive Officer - Finance and Administration</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;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;">Date:&#160;
April 23, 2021</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;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;">&#160;</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;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;">&#160;</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;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;">&#160;</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;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;">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;Times New Roman&quot;,&quot;serif&quot;;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;">&#160;</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;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;">&#160;</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;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;">By <u>_S\Matthew
T. Hinkle&#160; &#160;________</u></div></div>

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

<div style="font-size: 12.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;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;">&#160;&#160; Chief
Executive Officer - Finance and Administration</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;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;">Date:&#160;
April 23, 2021</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;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;">&#160;</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;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;">&#160;</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;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;">By <u>_S\Robert
G. Kubilis ______________</u></div></div>

<div style="font-size: 12.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;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;">&#160;&#160;&#160;&#160;&#160; Robert G. Kubilis</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;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;">&#160;&#160; Chief
Financial Officer </div><div style="font-size: 10.0pt;font-family: &quot;Courier New&quot;;display: inline;">and</div><div style="font-size: 10.0pt;font-family: &quot;Courier New&quot;;display: inline;"> </div><div style="font-size: 10.0pt;font-family: &quot;Courier New&quot;;display: inline;">Chief Accounting Officer</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;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;">Date:&#160;
April 23, 2021</div></div>

</div></body></html>
</TEXT>
</DOCUMENT>
<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="516" height="1" src="word6592774799360.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="516" height="1" src="word6592774799360.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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<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;">
</div>of<div style="letter-spacing: -.25pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">their</div><div style="letter-spacing: -.3pt;display: inline;"> </div>duties<div style="letter-spacing: -.25pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">(whether</div><div style="letter-spacing: -.3pt;display: inline;"> </div>formally<div style="letter-spacing: -.25pt;display: inline;">
</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>

</div><div style="font-size: 11.0pt;font-family: &quot;Calibri&quot;,&quot;sans-serif&quot;;display: inline;"><br clear="all" style="page-break-before: always">
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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: .5pt;margin-bottom: .0001pt">

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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;">
</div>be<div style="letter-spacing: -.3pt;display: inline;"> </div>involved<div style="letter-spacing: -.3pt;display: inline;"> </div>in<div style="letter-spacing: -.3pt;display: inline;"> </div>establishing<div style="letter-spacing: -.3pt;display: inline;"> </div>policies<div style="letter-spacing: -.35pt;display: inline;">
</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;">
</div>the<div style="letter-spacing: -.35pt;display: inline;"> </div>FT<div style="letter-spacing: 2.4pt;display: inline;"> </div>Funds,<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>and<div style="letter-spacing: -.3pt;display: inline;"> </div>the<div style="letter-spacing: -.3pt;display: inline;"> </div>administrator<div style="letter-spacing: -.3pt;display: inline;"> </div>and<div style="letter-spacing: -.3pt;display: inline;"> </div>is<div style="letter-spacing: -.3pt;display: inline;"> </div>consistent<div style="letter-spacing: -.3pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">with</div><div style="letter-spacing: -.3pt;display: inline;"> </div>the<div style="letter-spacing: -.25pt;display: inline;"> </div>performance<div style="letter-spacing: -.3pt;display: inline;"> </div>by<div style="letter-spacing: -.3pt;display: inline;"> </div>the<div style="letter-spacing: 1.0pt;display: inline;"> </div>Covered<div style="letter-spacing: -.3pt;display: inline;">
</div>Officers<div style="letter-spacing: -.25pt;display: inline;"> </div>of<div style="letter-spacing: -.3pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">their</div><div style="letter-spacing: -.35pt;display: inline;"> </div>duties<div style="letter-spacing: -.25pt;display: inline;">
</div>as<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>of<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: -.25pt;display: inline;">
</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;">
</div>in<div style="letter-spacing: -.3pt;display: inline;"> </div>conformity<div style="letter-spacing: 2.25pt;display: inline;"> </div>with<div style="letter-spacing: -.35pt;display: inline;"> </div>the<div style="letter-spacing: -.3pt;display: inline;"> </div>provisions<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: -.3pt;display: inline;"> </div>Investment<div style="letter-spacing: -.3pt;display: inline;"> </div>Company<div style="letter-spacing: -.25pt;display: inline;">
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</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;">
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</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;">
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</div>Officer<div style="letter-spacing: -.45pt;display: inline;"> </div>must:</div>

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</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><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;">
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</div><div style="letter-spacing: -.05pt;display: inline;">Resources</div><div style="letter-spacing: -.3pt;display: inline;"> </div>General<div style="letter-spacing: -.35pt;display: inline;">
</div>Counsel<div style="letter-spacing: -.4pt;display: inline;"> </div>for<div style="letter-spacing: -.35pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">any</div><div style="letter-spacing: 1.1pt;display: inline;"> </div>entertainment<div style="letter-spacing: -.3pt;display: inline;"> </div>with<div style="letter-spacing: -.3pt;display: inline;"> </div>a<div style="letter-spacing: -.3pt;display: inline;"> </div>value<div style="letter-spacing: -.3pt;display: inline;"> </div>in<div style="letter-spacing: -.3pt;display: inline;"> </div>excess<div style="letter-spacing: -.3pt;display: inline;"> </div>of<div style="letter-spacing: -.25pt;display: inline;"> </div>$1000.</div>

<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;">
</div>interest<div style="letter-spacing: -.35pt;display: inline;"> </div>in,<div style="letter-spacing: -.3pt;display: inline;"> </div>or<div style="letter-spacing: -.3pt;display: inline;"> </div>any<div style="letter-spacing: -.3pt;display: inline;"> </div>consulting<div style="letter-spacing: -.3pt;display: inline;"> </div>or<div style="letter-spacing: -.3pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">employment</div><div style="letter-spacing: -.3pt;display: inline;"> </div>relationship<div style="letter-spacing: -.45pt;display: inline;"> </div>with,<div style="letter-spacing: -.25pt;display: inline;"> </div>any<div style="letter-spacing: -.3pt;display: inline;"> </div>of<div style="letter-spacing: -.3pt;display: inline;"> </div>the<div style="letter-spacing: 1.3pt;display: inline;"> </div>FT<div style="letter-spacing: -.4pt;display: inline;"> </div>Fund&#8217;s<div style="letter-spacing: -.4pt;display: inline;"> </div>service<div style="letter-spacing: -.35pt;display: inline;"> </div>providers,<div style="letter-spacing: -.4pt;display: inline;"> </div>other<div style="letter-spacing: -.35pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">than</div><div style="letter-spacing: -.4pt;display: inline;"> </div>an<div style="letter-spacing: -.4pt;display: inline;"> </div>investment<div style="letter-spacing: -.35pt;display: inline;"> </div>adviser,<div style="letter-spacing: -.4pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">principal</div><div style="letter-spacing: -.35pt;display: inline;">
</div>underwriter,<div style="letter-spacing: 1.1pt;display: inline;"> </div>administrator<div style="letter-spacing: -.45pt;display: inline;"> </div>or<div style="letter-spacing: -.4pt;display: inline;"> </div>any<div style="letter-spacing: -.4pt;display: inline;"> </div>affiliated<div style="letter-spacing: -.4pt;display: inline;"> </div>person<div style="letter-spacing: -.45pt;display: inline;"> </div>thereof.</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;
</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;">
</div>or<div style="letter-spacing: -.35pt;display: inline;"> </div>spreads<div style="letter-spacing: -.3pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">paid</div><div style="letter-spacing: 2.85pt;display: inline;"> </div>by<div style="letter-spacing: -.3pt;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: -.25pt;display: inline;"> </div>for<div style="letter-spacing: -.3pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">effecting</div><div style="letter-spacing: -.3pt;display: inline;">
</div>portfolio<div style="letter-spacing: -.3pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">transactions</div><div style="letter-spacing: -.25pt;display: inline;"> </div>or<div style="letter-spacing: -.3pt;display: inline;"> </div>for<div style="letter-spacing: -.3pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">selling</div><div style="letter-spacing: -.25pt;display: inline;"> </div>or<div style="letter-spacing: -.3pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">redeeming</div><div style="letter-spacing: -.3pt;display: inline;">
</div>shares<div style="letter-spacing: 3.25pt;display: inline;"> </div>other<div style="letter-spacing: -.35pt;display: inline;"> </div>than<div style="letter-spacing: -.3pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">an</div><div style="letter-spacing: -.3pt;display: inline;"> </div>interest<div style="letter-spacing: -.3pt;display: inline;"> </div>arising<div style="letter-spacing: -.35pt;display: inline;">
</div>from<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>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;">
</div>granted<div style="letter-spacing: -.25pt;display: inline;"> </div>at<div style="letter-spacing: -.3pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">the</div><div style="letter-spacing: -.25pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">next</div><div style="letter-spacing: -.25pt;display: inline;"> </div>regularly<div style="letter-spacing: -.3pt;display: inline;"> </div>scheduled<div style="letter-spacing: 1.25pt;display: inline;"> </div>meeting.</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>

<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;
</div></div><div style="letter-spacing: -.05pt;display: inline;">Each</div><div style="letter-spacing: -.35pt;display: inline;"> </div>Covered<div style="letter-spacing: -.35pt;display: inline;">
</div>Officer<div style="letter-spacing: -.35pt;display: inline;"> </div>should<div style="letter-spacing: -.35pt;display: inline;"> </div>not<div style="letter-spacing: -.35pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">knowingly</div><div style="letter-spacing: -.3pt;display: inline;">
</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;">
</div>and<div style="letter-spacing: -.35pt;display: inline;"> </div>to<div style="letter-spacing: -.35pt;display: inline;"> </div>governmental<div style="letter-spacing: -.3pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">regulators</div><div style="letter-spacing: 3.45pt;display: inline;"> </div>and<div style="letter-spacing: -.8pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">self-regulatory</div><div style="letter-spacing: -.8pt;display: inline;"> </div>organizations;</div>

<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;
</div></div><div style="letter-spacing: -.05pt;display: inline;">Each</div><div style="letter-spacing: -.3pt;display: inline;"> </div>Covered<div style="letter-spacing: -.25pt;display: inline;">
</div>Officer<div style="letter-spacing: -.25pt;display: inline;"> </div>should,<div style="letter-spacing: -.3pt;display: inline;"> </div>to<div style="letter-spacing: -.25pt;display: inline;"> </div>the<div style="letter-spacing: -.3pt;display: inline;"> </div>extent<div style="letter-spacing: -.25pt;display: inline;">
</div>appropriate<div style="letter-spacing: -.3pt;display: inline;"> </div>within<div style="letter-spacing: -.2pt;display: inline;"> </div>his<div style="letter-spacing: -.25pt;display: inline;"> </div>or<div style="letter-spacing: -.3pt;display: inline;"> </div>her<div style="letter-spacing: -.3pt;display: inline;"> </div>area<div style="letter-spacing: -.25pt;display: inline;"> </div>of<div style="letter-spacing: 1.15pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">responsibility,</div><div style="letter-spacing: -.3pt;display: inline;"> </div>consult<div style="letter-spacing: -.3pt;display: inline;"> </div>with<div style="letter-spacing: -.3pt;display: inline;"> </div>other<div style="letter-spacing: -.3pt;display: inline;"> </div>officers<div style="letter-spacing: -.3pt;display: inline;"> </div>and<div style="letter-spacing: -.3pt;display: inline;"> </div>employees<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>FT<div style="letter-spacing: -.3pt;display: inline;"> </div>Funds,<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>Fund&#8217;s<div style="letter-spacing: 1.4pt;display: inline;"> </div>adviser<div style="letter-spacing: -.3pt;display: inline;"> </div>and<div style="letter-spacing: -.3pt;display: inline;"> </div>the<div style="letter-spacing: -.3pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">administrator</div><div style="letter-spacing: -.3pt;display: inline;"> </div>with<div style="letter-spacing: -.25pt;display: inline;"> </div>the<div style="letter-spacing: -.3pt;display: inline;"> </div>goal<div style="letter-spacing: -.3pt;display: inline;"> </div>of<div style="letter-spacing: -.3pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">promoting</div><div style="letter-spacing: -.25pt;display: inline;"> </div>full,<div style="letter-spacing: -.3pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">fair,</div><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: -.25pt;display: inline;"> </div>and<div style="letter-spacing: 3.25pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">understandable</div><div style="letter-spacing: -.35pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">disclosure</div><div style="letter-spacing: -.3pt;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;">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>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>file<div style="letter-spacing: -.35pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">with,</div><div style="letter-spacing: -.3pt;display: inline;"> </div>or<div style="letter-spacing: 3.95pt;display: inline;"> </div>submit<div style="letter-spacing: -.3pt;display: inline;"> </div>to,<div style="letter-spacing: -.25pt;display: inline;"> </div>the<div style="letter-spacing: -.25pt;display: inline;"> </div>SEC<div style="letter-spacing: -.25pt;display: inline;"> </div>and<div style="letter-spacing: -.25pt;display: inline;"> </div>in<div style="letter-spacing: -.3pt;display: inline;"> </div>other<div style="letter-spacing: -.25pt;display: inline;"> </div>public<div style="letter-spacing: -.25pt;display: inline;">
</div>communications<div style="letter-spacing: -.25pt;display: inline;"> </div>made<div style="letter-spacing: -.25pt;display: inline;"> </div>by<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>Funds;<div style="letter-spacing: -.25pt;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: 5.75pt;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>It<div style="letter-spacing: -.3pt;display: inline;"> </div>is<div style="letter-spacing: -.3pt;display: inline;"> </div>the<div style="letter-spacing: -.3pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">responsibility</div><div style="letter-spacing: -.3pt;display: inline;"> </div>of<div style="letter-spacing: -.3pt;display: inline;"> </div>each<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>to<div style="letter-spacing: -.3pt;display: inline;"> </div>promote<div style="letter-spacing: -.3pt;display: inline;">
</div>compliance<div style="letter-spacing: -.3pt;display: inline;"> </div>with<div style="letter-spacing: -.3pt;display: inline;"> </div>the<div style="letter-spacing: -.3pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">standards</div><div style="letter-spacing: 2.1pt;display: inline;">
</div>and<div style="letter-spacing: -.4pt;display: inline;"> </div>restrictions<div style="letter-spacing: -.35pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">imposed</div><div style="letter-spacing: -.4pt;display: inline;"> </div>by<div style="letter-spacing: -.35pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">applicable</div><div style="letter-spacing: -.4pt;display: inline;"> </div>laws,<div style="letter-spacing: -.35pt;display: inline;"> </div>rules<div style="letter-spacing: -.4pt;display: inline;"> </div>and<div style="letter-spacing: -.35pt;display: inline;"> </div>regulations.</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>

<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: 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: 13.0pt">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>

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</div></div><div style="letter-spacing: -.05pt;display: inline;">Upon</div><div style="letter-spacing: -.25pt;display: inline;"> </div>becoming<div style="letter-spacing: -.25pt;display: inline;">
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</div></div><div style="letter-spacing: -.05pt;display: inline;">Annually</div><div style="letter-spacing: -.3pt;display: inline;"> </div>thereafter<div style="letter-spacing: -.3pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">affirm</div><div style="letter-spacing: -.3pt;display: inline;"> </div>to<div style="letter-spacing: -.3pt;display: inline;"> </div>the<div style="letter-spacing: -.25pt;display: inline;"> </div>Board<div style="letter-spacing: -.3pt;display: inline;"> </div>that<div style="letter-spacing: -.25pt;display: inline;"> </div>he<div style="letter-spacing: -.35pt;display: inline;"> </div>has<div style="letter-spacing: -.25pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">complied</div><div style="letter-spacing: -.3pt;display: inline;"> </div>with<div style="letter-spacing: -.25pt;display: inline;"> </div>the<div style="letter-spacing: -.3pt;display: inline;"> </div>requirements<div style="letter-spacing: -.25pt;display: inline;"> </div>of<div style="letter-spacing: -.3pt;display: inline;"> </div>the<div style="letter-spacing: 1.85pt;display: inline;"> </div>Code;<div style="letter-spacing: -.5pt;display: inline;"> </div>and</div>

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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;">
</div>Counsel<div style="letter-spacing: -.35pt;display: inline;"> </div>or<div style="letter-spacing: -.35pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">Deputy</div><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><div style="letter-spacing: -.05pt;display: inline;">promptly</div><div style="letter-spacing: -.35pt;display: inline;">
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</div></div>Franklin<div style="letter-spacing: -.4pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">Resources</div><div style="letter-spacing: -.35pt;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>of,<div style="letter-spacing: -.4pt;display: inline;"> </div>and<div style="letter-spacing: -.35pt;display: inline;"> </div>appropriate<div style="letter-spacing: -.35pt;display: inline;"> </div>modifications<div style="letter-spacing: -.4pt;display: inline;"> </div>to, applicable<div style="letter-spacing: -.45pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">policies</div><div style="letter-spacing: -.4pt;display: inline;"> </div>and<div style="letter-spacing: -.4pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">procedures;</div><div style="letter-spacing: -.4pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">notification</div><div style="letter-spacing: -.4pt;display: inline;"> </div>to<div style="letter-spacing: -.4pt;display: inline;"> </div>appropriate<div style="letter-spacing: -.4pt;display: inline;"> </div>personnel<div style="letter-spacing: -.4pt;display: inline;">
</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;
</div></div>The<div style="letter-spacing: -.4pt;display: inline;"> </div>Independent<div style="letter-spacing: -.35pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">Directors</div><div style="letter-spacing: -.35pt;display: inline;"> </div>will<div style="letter-spacing: -.35pt;display: inline;"> </div>be<div style="letter-spacing: -.35pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">responsible</div><div style="letter-spacing: -.4pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">for</div><div style="letter-spacing: -.35pt;display: inline;"> </div>granting<div style="letter-spacing: -.4pt;display: inline;">
</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;">
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<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>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;">
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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: .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="193" height="1" src="word6592774799362.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;">
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</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">

<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">

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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;">
</div>use<div style="letter-spacing: -.15pt;display: inline;"> </div>by<div style="letter-spacing: -.15pt;display: inline;"> </div>the<div style="letter-spacing: -.1pt;display: inline;"> </div>FT<div style="letter-spacing: -.1pt;display: inline;"> </div>Funds<div style="letter-spacing: -.15pt;display: inline;"> </div>and<div style="letter-spacing: -.1pt;display: inline;"> </div>does<div style="letter-spacing: -.1pt;display: inline;"> </div>not<div style="letter-spacing: -.1pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">constitute</div><div style="letter-spacing: 1.5pt;display: inline;"> </div>an<div style="letter-spacing: .2pt;display: inline;"> </div>admission,<div style="letter-spacing: .25pt;display: inline;"> </div>by<div style="letter-spacing: .25pt;display: inline;"> </div>or<div style="letter-spacing: .2pt;display: inline;"> </div>on<div style="letter-spacing: .25pt;display: inline;"> </div>behalf<div style="letter-spacing: .2pt;display: inline;"> </div>of<div style="letter-spacing: .2pt;display: inline;"> </div>any<div style="letter-spacing: .25pt;display: inline;"> </div>FT<div style="letter-spacing: .25pt;display: inline;"> </div>Funds,<div style="letter-spacing: .2pt;display: inline;"> </div>as<div style="letter-spacing: .2pt;display: inline;"> </div>to<div style="letter-spacing: .25pt;display: inline;"> </div>any<div style="letter-spacing: .2pt;display: inline;"> </div>fact,<div style="letter-spacing: .25pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">circumstance,</div><div style="letter-spacing: .25pt;display: inline;"> </div>or<div style="letter-spacing: .2pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">legal</div><div style="letter-spacing: 1.6pt;display: inline;"> </div>conclusion.</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-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: 0in;margin-bottom: .0001pt;margin-left: 56.0pt"><div style="letter-spacing: -.1pt;display: inline;">X.<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></div><div style="letter-spacing: -.05pt;display: inline;">Disclosure</div><div style="letter-spacing: -.45pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">on</div><div style="letter-spacing: -.4pt;display: inline;"> </div>Form<div style="letter-spacing: -.4pt;display: inline;"> </div>N-CSR</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: 11.1pt;margin-bottom: .0001pt;margin-left: 19.95pt">Item<div style="letter-spacing: -.35pt;display: inline;"> </div>2<div style="letter-spacing: -.35pt;display: inline;"> </div>of<div style="letter-spacing: -.3pt;display: inline;"> </div>Form<div style="letter-spacing: -.35pt;display: inline;"> </div>N-CSR<div style="letter-spacing: -.3pt;display: inline;"> </div>requires<div style="letter-spacing: -.35pt;display: inline;">
</div>a<div style="letter-spacing: -.35pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">registered</div><div style="letter-spacing: -.3pt;display: inline;"> </div>management<div style="letter-spacing: -.35pt;display: inline;"> </div>investment<div style="letter-spacing: -.35pt;display: inline;"> </div>company<div style="letter-spacing: -.3pt;display: inline;"> </div>to<div style="letter-spacing: 1.0pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">disclose</div><div style="letter-spacing: -.25pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">annually</div><div style="letter-spacing: -.25pt;display: inline;"> </div>whether,<div style="letter-spacing: -.25pt;display: inline;">
</div>as<div style="letter-spacing: -.2pt;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;">end</div><div style="letter-spacing: -.2pt;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;">period</div><div style="letter-spacing: -.2pt;display: inline;"> </div>covered<div style="letter-spacing: -.25pt;display: inline;"> </div>by<div style="letter-spacing: -.25pt;display: inline;"> </div>the<div style="letter-spacing: -.25pt;display: inline;"> </div>report,<div style="letter-spacing: -.2pt;display: inline;">
</div>it<div style="letter-spacing: -.25pt;display: inline;"> </div>has<div style="letter-spacing: -.25pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">adopted</div><div style="letter-spacing: -.2pt;display: inline;"> </div>a<div style="letter-spacing: 2.75pt;display: inline;"> </div>code<div style="letter-spacing: -.35pt;display: inline;"> </div>of<div style="letter-spacing: -.35pt;display: inline;"> </div>ethics<div style="letter-spacing: -.3pt;display: inline;"> </div>that<div style="letter-spacing: -.35pt;display: inline;"> </div>applies<div style="letter-spacing: -.3pt;display: inline;"> </div>to<div style="letter-spacing: -.35pt;display: inline;"> </div>the<div style="letter-spacing: -.35pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">registrant's</div><div style="letter-spacing: -.3pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">principal</div><div style="letter-spacing: -.35pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">executive</div><div style="letter-spacing: -.3pt;display: inline;"> </div>officer,<div style="letter-spacing: -.35pt;display: inline;">
</div>principal<div style="letter-spacing: -.3pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">financial</div><div style="letter-spacing: -.35pt;display: inline;">
</div>officer,<div style="letter-spacing: 3.35pt;display: inline;"> </div>principal<div style="letter-spacing: -.4pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">accounting</div><div style="letter-spacing: -.4pt;display: inline;"> </div>officer<div style="letter-spacing: -.4pt;display: inline;">
</div>or<div style="letter-spacing: -.35pt;display: inline;"> </div>controller,<div style="letter-spacing: -.4pt;display: inline;"> </div>or<div style="letter-spacing: -.4pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">persons</div><div style="letter-spacing: -.35pt;display: inline;">
</div><div style="letter-spacing: -.05pt;display: inline;">performing</div><div style="letter-spacing: -.4pt;display: inline;"> </div>similar<div style="letter-spacing: -.4pt;display: inline;">
</div><div style="letter-spacing: -.05pt;display: inline;">functions,</div><div style="letter-spacing: -.35pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">regardless</div><div style="letter-spacing: -.4pt;display: inline;"> </div>of<div style="letter-spacing: 4.05pt;display: inline;"> </div>whether<div style="letter-spacing: -.3pt;display: inline;"> </div>these<div style="letter-spacing: -.25pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">officers</div><div style="letter-spacing: -.25pt;display: inline;">
</div><div style="letter-spacing: -.05pt;display: inline;">are</div><div style="letter-spacing: -.25pt;display: inline;"> </div>employed<div style="letter-spacing: -.2pt;display: inline;"> </div>by<div style="letter-spacing: -.25pt;display: inline;"> </div>the<div style="letter-spacing: -.25pt;display: inline;"> </div>registrant<div style="letter-spacing: -.25pt;display: inline;"> </div>or<div style="letter-spacing: -.25pt;display: inline;"> </div>a<div style="letter-spacing: -.25pt;display: inline;"> </div>third<div style="letter-spacing: -.25pt;display: inline;">
</div>party.<div style="letter-spacing: -.25pt;display: inline;"> </div>If<div style="letter-spacing: -.25pt;display: inline;"> </div>the<div style="letter-spacing: -.25pt;display: inline;"> </div>registrant<div style="letter-spacing: -.3pt;display: inline;"> </div>has<div style="letter-spacing: -.25pt;display: inline;"> </div>not<div style="letter-spacing: 1.4pt;display: inline;"> </div>adopted<div style="letter-spacing: -.25pt;display: inline;">
</div>such<div style="letter-spacing: -.2pt;display: inline;"> </div>a<div style="letter-spacing: -.2pt;display: inline;"> </div>code<div style="letter-spacing: -.2pt;display: inline;"> </div>of<div style="letter-spacing: -.3pt;display: inline;"> </div>ethics,<div style="letter-spacing: -.2pt;display: inline;">
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</div>reoccurrences.</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">

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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 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>

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</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: 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>

<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>

<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>

<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;;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>

</div><div style="font-size: 10.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;display: inline;"><br clear="all" style="page-break-before: always">
</div><div style="page: WordSection5">

<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">

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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>

<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"><b><div style="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: 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;">
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</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>

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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>

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<TYPE>EX-99.CERT
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<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>Franklin Universal Trust</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">4/23/2021</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 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">&#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>Franklin Universal Trust</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">4/23/2021</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></body></html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.906 CERT
<SEQUENCE>4
<FILENAME>fut906.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>Franklin
Universal Trust</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
2/28/2021 (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; 4/23/2021</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: 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>

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<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">&#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">&#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">&#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">&#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">&#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">&#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">&#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">&#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">&#160;</div>

<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>Franklin
Universal Trust</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
2/28/2021 (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; 4/23/2021</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: WordSection2">

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<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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